Norway: Songa Offshore Announces Management Changes

Songa Offshore SE (“Songa” or the “company”) has accepted the resignation of the company’s CEO, Asbjørn Vavik. Effective immediately, Jens A Wilhelmsen, Chairman of the Board of Directors, will assume the additional role as interim CEO. Mr Vavik will remain at the company’s disposal to conclude on-going projects.

The company is thankful to Mr Vavik for his contribution in positioning Songa as a leading rig operator on the Norwegian continental shelf, and in securing significant long-term contracts with Statoil. We have, however, now come to a crossroads where it is right to part company, says Jens A Wilhelmsen.

The Board has started the search for a new CEO and shall also use the next few weeks to undertake a thorough assessment of key strategic and operational issues. Consequently, the Board has decided to make the announcement of the company’s Q3 results on November 26, 2012.

[mappress]
Press Release, October 26, 2012