REG - Ashtead Tech Hldgs - Appointment of Non-Executive Director

Ashtead Technology HoldingsAnnouncement

20/03/2024 09:30

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RNS Number : 5922H  Ashtead Technology Holdings plc  20 March 2024

20 March 2024

Ashtead Technology Holdings plc

("Ashtead Technology" or the "Group")

Appointment of Non-Executive Director

 

Ashtead Technology Holdings plc (AIM: AT.), a leading subsea equipment rental
and solutions provider for the global offshore energy sector, is pleased to
announce the appointment of Jean Cahuzac as a Non-Executive Director of the
Group effective immediately.

 

Jean Cahuzac has held senior executive roles in the subsea services sector
spanning a period of 40 years. He was appointed Chief Executive Officer of
Acergy S.A. in 2008 and in 2011, post-merger, became the Chief Executive
Officer of Subsea 7 S.A., a position he held until his retirement in December
2019. Previously, Jean held senior executive roles in Transocean and
Schlumberger Sedco Forex.

 

Since retiring from Subsea 7 as the CEO he has remained very active in the
sector and in addition to remaining on the board of Subsea 7 as a
non-executive director, he also holds non-executive board positions in Bourbon
and Seadrill. In addition, Jean currently serves as Chair of Evolen, a French
association supporting companies and professionals across all aspects of the
energy sector on the evolving sector backdrop and the energy transition.

 

In addition to joining the Board, Jean will also join the Audit, Remuneration
and Nomination Committees.

 

Jean Cahuzac said:

"I am very pleased to join the Board of Ashtead Technology; the Company has
been on an exciting growth journey over the last few years and has positioned
itself well to support the changing offshore energy landscape.  I look
forward to working with the Board as it continues to progress its strategic
goals."

 

Bill Shannon, Chairman, said:

"I am genuinely delighted that Jean has decided to join the Ashtead Technology
board as a Non-Executive Director. Both the length and depth of his experience
in the energy services sector are outstanding, and I have no doubt he will
bring valuable insight and perspective to Board discussions and
decision-making as we continue to grow our business."

 

For further information, please contact:

 

 Ashtead Technology                           (via Vigo Consulting)

 Allan Pirie, Chief Executive Officer

 Ingrid Stewart, Chief Financial Officer

 Vigo Consulting (financial PR)               Tel: +44 (0)20 7390 0230

 Patrick d'Ancona                             ashteadtechnology@vigoconsulting.com

 Finlay Thomson

 Verity Snow

 Numis Securities Limited (Nomad and Broker)  Tel: +44 (0)20 7260 1000

 Julian Cater

 George Price

 Kevin Cruickshank (QE)

 

In accordance with Schedule 2 (g) of the AIM Rules for Companies, Jean Paul
Cahuzac (aged 70 years) holds/has held the following
directorships/partnerships in the last five years:

 

 Current directorships/partnerships        Previous directorships/partnerships (last five years)
 Bourbon Maritime SAS                      None

 (Société Phocéenne de Participation)

 Evolen

 Seadrill Limited

 Subsea 7 S.A.

 

Jean Cahuzac currently holds no ordinary shares in the Company.

 

There are no further disclosures to made be under Schedule 2(g) of the AIM
Rules for Companies.

 

Notes to editors:

 

Ashtead Technology is a leading subsea equipment rental and solutions provider
for the global offshore energy sector.  Ashtead Technology's specialist
equipment, advanced-technologies and support services enable its customers to
understand the subsea environment and manage offshore energy production
infrastructure.

 

The Company's service offering is applicable across the lifecycle of offshore
wind farms and offshore oil and gas infrastructure.

 

In the fast-growing offshore wind sector, Ashtead Technology's specialist
equipment and services are essential through the project development,
construction and installation phase. Once wind farms are operational, Ashtead
Technology supports customers with inspection, maintenance and repair ("IMR")
equipment and services.  In the more mature oil and gas sector, Ashtead
Technology's focus is on IMR and decommissioning.

 

Headquartered in the UK, the Company operates globally, servicing customers
from its eleven facilities located in key offshore energy hubs.

 

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