REG-Petrofac Limited Petrofac Limited: Petrofac management and Board change

PetrofacAnnouncement

12/05/2021 07:05

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   Petrofac Limited ( PFC)
   Petrofac Limited: Petrofac management and Board change

   12-May-2021 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Petrofac Limited announces that Alastair Cochran, Chief Financial Officer,
   has advised the Board of his intention to leave and take up a new role
   outside the Group on 1^st September 2021.

   Afonso Reis e Sousa, currently Group Treasurer & Head of Tax, will succeed
   Alastair and will be formally appointed as Chief Financial Officer and
   Executive Director on the same date following an orderly transition period
   over the coming months. Afonso, who has been with Petrofac for eight
   years, spent the early part of his career in investment banking, focusing
   on the energy and infrastructure sectors. He has extensive experience at
   Petrofac in a variety of senior finance roles and has most recently led
   the Company's successful refinancing.

   Sami Iskander, Group Chief Executive, said: "On behalf of the Company and
   the Board I would like to thank Alastair for his tremendous contribution
   and personal commitment over the last five years, together with his
   support in recent months since my appointment as CEO. Alastair has
   pioneered our transformation back to a capital-light business and leaves
   Petrofac strongly positioned for efficient and effective execution as
   markets recover and we rebuild our order book. I wish him and his family
   every success in the future.

   "I am also delighted to have such an excellent successor and partner in
   Afonso, who knows the business extremely well, has been a key member of
   our finance leadership team, and provides continuity at an important time
   as we rebalance, reshape and rebuild the business. I look forward to
   working with him in the years ahead."

   Alastair said: "The decision to leave was not an easy one.  I am very
   proud of everything we have achieved as a team during my time with the
   Group, including the strategic and functional transformations that we have
   delivered.  I leave Petrofac in very capable hands and am delighted to be
   handing over in the coming months to Afonso, whose skills and expertise
   equip him well to lead Petrofac during the next phase of its evolution.  I
   wish Afonso, Sami and the entire team every success in the future."

   In accordance with Listing Rule 9.6.15 it is confirmed that there are no
   further details to be disclosed pursuant to Listing Rule 9.6.13.
    

   Ends

   For further information contact:

   Petrofac Limited      
   +44 (0) 207 811 4900

   Jonathan Yarr, Head of Investor Relations
    1 jonathan.yarr@petrofac.com

   Tulchan Communications Group
   +44 (0) 207 353 4200
   petrofac@tulchangroup.com

   Martin Robinson

   NOTES TO EDITORS
   Afonso Reis e Sousa's biography
   Afonso joined Petrofac in 2012 as Group Head of Structured Finance and
   accumulated a portfolio of increasing responsibility including Group
   Treasurer, Head of Tax and Group Head of Enterprise Risk. He has a
   background in investment banking, having begun his career with Deutsche
   Morgan Grenfell, and has extensive experience in corporate and project
   finance.

   Petrofac

   Petrofac is a leading international service provider to the energy
   industry, with a diverse client portfolio including many of the world's
   leading energy companies.

   Petrofac designs, builds, manages and maintains oil, gas, refining,
   petrochemicals and renewable energy infrastructure. Our purpose is to
   enable our clients to meet the world's evolving energy needs. Our four
   values - driven, agile, respectful and open - are at the heart of
   everything we do.

   Petrofac's core markets are in the Middle East and North Africa (MENA)
   region and the UK North Sea, where we have built a long and successful
   track record of safe, reliable and innovative execution, underpinned by a
   cost effective and local delivery model with a strong focus on in-country
   value. We operate in several other significant markets, including India,
   South East Asia and the United States. We have 9,400 employees based
   across 31 offices globally.

   Petrofac is quoted on the London Stock Exchange (symbol: PFC).  

   For additional information, please refer to the Petrofac website at
    2 www.petrofac.com  

    

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   ISIN:           GB00B0H2K534
   Category Code:  BOA
   TIDM:           PFC
   LEI Code:       2138004624W8CKCSJ177
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   104448
   EQS News ID:    1195492


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:jonathan.yarr@petrofac.com
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