SBM names ex-Shell executive as CFO

Dutch-based SBM Offshore informed on Wednesday that it has nominated Douglas Wood as new chief financial officer.

Earlier this year, SBM Offshore announced the intention of the current CFO, P.M. van Rossum, to retire after the annual general meeting  in 2017.

“The Supervisory Board assigned the Appointment & Remuneration Committee to lead the selection process for a successor and make a recommendation to the Supervisory Board. On August 10, 2016 the Supervisory Board nominated Wood at the recommendation of the Appointment & Remuneration Committee,” SBM Offshore said in its statement.

The company said it will hold an extraordinary general meeting on November 30 where it will be proposed that Wood be appointed as a member of the management board for a period of four years until the 2021 AGM. This means that during the EGM of November 30, van Rossum will step down as management board member and CFO.

Wood (British, 45 years) has worked at Hague-based LNG giant Shell since 1993 in various financial and management positions, including as vice president finance and planning exploration (at Shell Upstream International) and most recently as CFO of Showa Shell Sekiyu K.K. in Japan, a company listed on the Tokyo Stock Exchange.

“Wood has thorough industry knowledge, extensive international experience in finance matters including project financing, project control, M&A and management board experience as CFO of a publicly listed company.”

He will join SBM Offshore as of October 1, 2016.


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