Board Change

Petrofac Limited today announces that Tim Weller has advised the Board of his intention to leave the Group to take up the role of Chief Financial Officer of G4S plc, the global integrated security group. Tim will leave the Group in October 2016 and the search for his successor is underway.

Petrofac Group Chief Executive Ayman Asfari said: “On behalf of the Board I would like to thank Tim for his significant contribution over the past five years. Over this time the Group has gone through substantial strategic change and Tim’s experience, professionalism and measured approach have proven invaluable in helping us on our journey back to our traditional areas of focus. We wish Tim well in his new role with G4S.”

Tim Weller said: “I have thoroughly enjoyed my time at Petrofac and the decision to leave was not an easy one. With Petrofac’s renewed focus on its core strengths, I am confident that Ayman and the team will lead the Group to success. However, the opportunity to join G4S and an executive team that I have come to know and admire through my non-executive role with the company, is the right move for me at this time.”