Petrofac News 1700X397
30 August 2016

Board change

Petrofac Limited, the international oil & gas facilities service provider, announces that Alastair Cochran will join the Company on 3 October 2016 and, following a short handover, will formally succeed Tim Weller as Chief Financial Officer and Executive Director, at the Company’s October Board meeting. As previously announced, Tim Weller will leave the Group in October 2016 to take up the role of Chief Financial Officer of G4S plc.

Alastair, 46, will join Petrofac from BG Group plc, where he was most recently Transition Head of BG Global Strategy & Business Development overseeing the integration of BG Group following its acquisition by Royal Dutch Shell plc. Prior to that Alastair was Group Head of M&A and Corporate Finance at BG Group.

Chartered Accountant Alastair, who has 25 years’ experience, began his career with KPMG and spent his earlier career in investment banking, including with Morgan Stanley and Credit Suisse, advising on a wide range of capital market and M&A transactions.

Rijnhard van Tets, Petrofac's Chairman, said: "We are very pleased that Alastair has agreed to join Petrofac. His broad range of skills encompassing corporate finance, treasury, risk and strategy, underpinned by his strong financial and commercial acumen, will be a key asset both in the business and around our Board table.”

Ayman Asfari, Petrofac’s Group Chief Executive, said: "I am delighted to be able to welcome Alastair to our Group. His impressive track record, combined with his comprehensive range of skills and thorough understanding of the oil and gas industry, will be an excellent fit for the business. I am looking forward to working with him as we begin a new chapter in Petrofac's journey.”

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.