Sevan Marine shifts CFO role

Norway’s Sevan Marine ASA has informed that as of January 1, 2015, the CFO role will shift from Kjetil Vangsnes to Reese McNeel.

On this occasion, Sevan Marine’s CEO, Carl Lieungh, stated: “I wish to thank Mr Vangsnes for his valuable contribution to Sevan Marine’s successful restructuring from 2011 onwards. He played a crucial role in successfully sorting out many of Sevan Marine’s historical liabilities, restoring Sevan Marine’s reputation and putting in place improved governance and reporting. At the same time, I’m pleased to welcome Mr. McNeel onboard our team and am confident that he will add significant value to our Company going forward.”

McNeel joins Sevan Marine from AlixPartners where he held numerous interim finance roles. Sevan Marine says that he has worked extensively with major oil companies and offshore service providers and has experience working across Europe and the US. McNeel is a Chartered Financial Analyst (CFA) and holds an MBA from IESE Business School, Barcelona, Spain.

Vangsnes will continue to work for the company as Special Advisor for a period of up to six months.

Sevan Marine is listed on Oslo Børs and has developed a cylinder shaped floater that is, the company says, suitable for all offshore environments. So far, the company has concentrated its efforts in utilizing the Sevan technology for floating production and drilling applications.

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