PGS chooses new president & chief executive officer

Norwegian marine seismic player Petroleum Geo-Services (PGS) has appointed a new president and chief executive officer (CEO) of the company.

PGS said on Friday that the new president and CEO was Rune Olav Pedersen. According to the company, he will succeed Jon Erik Reinhardsen on September 1, 2017.

PGS chairman Walter Qvam said: “With the appointment of Mr. Pedersen, PGS will get a CEO with deep knowledge of the company and industry and with strong execution capabilities. We look forward to working closely with Mr. Pedersen in the time to come.”

Pedersen has worked in PGS for seven years and comes from the position of executive vice president and general counsel.

In this position, he has been responsible for corporate development, strategy, communication, legal, marketing, strategic customer relations, and compliance. Before joining PGS, he was a partner in the oil and gas department of the law firm Arntzen de Besche. He has a law degree from the University of Oslo and an executive MBA from London Business School.

Regarding the appointment, Pedersen said: “I am honored to be chosen as the new president and CEO of PGS. I consider us well positioned for a market recovery with an excellent organization, industry leading multiclient performance and imaging capabilities combined with an upgraded fleet of Ramform vessels.

“To address the continued challenging market in the shorter term, we have to continue our focus on reducing our cost base. I have really enjoyed working closely with Mr. Reinhardsen over the last seven years, and I wish him success in his future endeavors.”

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