Subsea 7 Makes Board Changes
Subsea 7 plans to make changes to the board of directors, subject to approval at the Annual General Meeting on April 17, 2018.
According to the company, Sir Peter Mason, currently senior independent director and chair of the Corporate Governance and Nominations Committee, will not be standing for re-election at the AGM.
Robert Long, currently a member of the Audit and Compensation Committees, will be retiring from his Directorship effective April 17, 2018.
In addition, the board of directors proposes David Mullen and Niels Kirk for election as independent non-executive directors.
David Mullen has over 30 years’ experience in the oil services business and is the chief executive officer of Shelf Drilling. Previously he held positions in Wellstream Holdings, Ocean Rig, Transocean, Schlumberger and Siem Offshore.
He holds a B.A. in Geology & Physics from Trinity College Dublin and an M.Sc. degree in Geophysics from University College Galway.
Niels Kirk, with 30 years of corporate and structured finance experience, worked at Citigroup/Citicorp for over 25 years. Prior to this, he worked at Banque Paribas for five years and completed a two year Maritime/Ship Broker apprenticeship in Denmark.
He holds an MBA in Finance and International Business from the Stern School at NYU and a Bachelor degree in Business Administration.
Furthermore, the board will elect a new senior independent director and Committee members at the next meeting of the board in May 2018.
The board proposes Jean Cahuzac and Eystein Eriksrud to be re-elected as directors of Subsea 7 at the AGM.
Cahuzac has been CEO of Subsea 7 since April 2008 and an executive member of the board of directors since May 2008. Cahuzac has over 35 years’ experience in the offshore oil and gas industry, having held various technical and senior management positions around the world.
He holds a Master’s degree in Engineering from École des Mines de St-Étienne and is a graduate of the French Petroleum Institute in Paris.
Eystein Eriksrud brings to his role extensive legal expertise in commercial and corporate affairs combined with senior executive experience in the offshore energy and shipping industries. He joined Siem Industries in October 2011 and is currently deputy chief executive officer of the Siem Industries Group and holds a number of Directorships within the Siem Industries Group.
He is a Candidate of Jurisprudence from the University of Oslo.