Polarcus to lose two board members

  • Business & Finance

A board member of marine seismic acquisition company Polarcus has decided to resign while another one opted not to stand for re-election at the company’s next AGM in May.

Polarcus said on Monday that Chris Kelsall has resigned from the company’s board of directors with effect from January 29, 2017.

To remind, Kelsall was elected to the board in May 2016, with a term of office of two years, when the company appointed four new directors.

Polarcus chairman, Peter Rigg, said: “I would like to thank Chris for his diligence and hard work. Polarcus wishes Chris every success in his future endeavors.”

Kelsall has 25 years of commercial and corporate advisory experience, including 14 years in investment banking, based in Sydney, London and most recently, as a Director Equity Capital Markets at Deutsche Bank in Hong Kong.

He is currently providing independent advisory services to private and public listed corporate clients, through Pinecote Capital Limited. He served as the Finance Director and a board member of AIM listed Mediterranean Oil & Gas for five years, until its sale in August 2014.

In addition, Polarcus informed that Arnstein Wigestrand decided not to stand for re-election at the company’s Annual General Meeting in May 2017. The company’s Nomination Committee has been informed and will make recommendations to shareholders before the AGM concerning the size and composition of the board for the future.

Wigestrand has more than 20 years of working experience in the upstream and downstream oil industry. He started as a geologist, and geophysicist with Statoil followed by several years with Saga Petroleum. He worked as an oil service analyst for a decade at Handelsbanken and SEB Enskilda. Wigestrand is currently an independent adviser and investor and chairman of Haukeli Invest AS and SP Capital 23 AS.

Offshore Energy Today Staff

Related news

List of related news articles