REG-Petrofac Limited Petrofac Limited: Board Update

PetrofacAnnouncement

07/01/2025 15:00

============

   Petrofac Limited ( PFC)
   Petrofac Limited: Board Update

   07-Jan-2025 / 14:59 GMT/BST

   ══════════════════════════════════════════════════════════════════════════

                                  BOARD UPDATE

   Petrofac announces today that Non-executive Director Sara Akbar has
   notified the Board of her intention to step down from her duties to pursue
   other business interests. She will do so from 31 January 2025.
     
   Commenting, Petrofac Chair René Médori, said:

   “With significant experience of the Group’s core Middle East region and
   energy sector, Sara has been a valuable contributor since joining the
   Petrofac Board in 2018. I would like to thank her for her commitment
   throughout her tenure, but particularly for her determination, alongside
   the wider Board, to deliver her fiduciary responsibilities during our
   recent strategic and financial review. This culminated in the announcement
   of a comprehensive financial restructuring in December, the completion of
   which will mark a new beginning for Petrofac.”

   Sara Akbar said:

   “It has been a privilege to have spent six years with the Petrofac Board.
   The agreement of a lock up agreement in respect of the Group’s financial
   restructuring represents an important milestone and I look forward to
   supporting the next stage of its implementation over the coming weeks, and
   seeing Petrofac emerge with the right foundations to deliver on its
   considerable potential. I will remain an ardent champion of this fantastic
   business and its global team as they begin a new chapter of growth.”

   As a result of the Board changes announced today, the Directors now sit on
   the following Board Committees as follows:
    
   Nominations Committee: René Médori (Chair), Matthias Bichsel, David Davies
   Audit Committee: David Davies (Chair), Matthias Bichsel, Aidan de Brunner
   Compliance & Ethics Committee: Mattias Bichsel (Chair), David Davies, René
   Médori
   Remuneration Committee: Matthias Bichsel (Chair), David Davies, René
   Médori
   Special Committee: Aidan de Brunner (Chair), Tareq Kawash, Afonso Reis e
   Sousa

   The attention of stakeholders is drawn to the Company’s announcement dated
   22 December 2024, which detailed future changes to Petrofac’s Board
   composition aligned with the aims of the Group’s financial restructuring.

   ENDS

    

   For further information contact:

    

   Petrofac:

   James Boothroyd, Head of Investor Relations

    1 James.boothroyd@petrofac.com 

   Sophie Reid, Group Director of Communications and Culture

    2 Sophie.reid@petrofac.com

   Teneo (for Petrofac):

   +44 (0) 207 353 4200

    3 petrofac@teneo.com

    

   NOTES TO EDITORS

   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 8,500 employees based
   across 31 offices globally.

    

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

    

   ══════════════════════════════════════════════════════════════════════════

   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   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.:   369122
   EQS News ID:    2063009


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    4 fncls.ssp?fn=show_t_gif&application_id=2063009&application_name=news&site_id=reuters~~~6aa99418-46f7-48b9-89fd-959a8d2e4912

References

   Visible links
   1. mailto:James.boothroyd@petrofac.com
   2. mailto:Sophie.reid@petrofac.com
   3. mailto:petrofac@teneo.com


============