Lamprell plc Appointment of new Chairman (3080Q)
September 11 2017 - 1:01AM
UK Regulatory
TIDMLAM
RNS Number : 3080Q
Lamprell plc
11 September 2017
11 September 2017
LAMPRELL PLC
("Lamprell" and with its subsidiaries the "Group")
APPOINTMENT OF NEW CHAIRMAN
Lamprell announces the appointment of John Malcolm in the role
of Non-Executive Chairman for the Company with effect from 20
September 2017, following the planned retirement of John Kennedy
from the Board. John Malcolm has been an independent Non-Executive
Director since 27 May 2013 and the Board determined that John's
strong industry experience and deep knowledge of the Company
presented an excellent candidate for the Chairman role from
existing Board members.
John Kennedy will continue as Non-Executive Chairman and
Director until he retires on 20 September 2017.
The composition of each of the Board Committees has been amended
in light of this appointment with Debra Valentine being appointed
as the chair for the Remuneration & Development Committee and
Mel Fitzgerald being appointed as the chair for the Nominations
& Governance Committee.
John Kennedy, Chairman, Lamprell, said:
"On behalf of the Board I would like to welcome John Malcolm as
the new Lamprell Chairman. John takes over the role at an important
time for the Company as it navigates through the continuing
industry downturn. We are pleased to have someone with the right
skills, industry knowledge and deep understanding of the Company
from within the Board to assume the crucial role of Chairman. John
Malcolm is an experienced leader with a proven record of
accomplishment in the oil and gas industry and I wish him and the
rest of the Board all the best for the future."
John Malcolm, Director, Lamprell, said:
"I look forward to assuming the role of Chairman and I am proud
to have the opportunity to help take Lamprell to the next stage in
its development. I would also like to personally thank John Kennedy
for his leadership of the Company over the past 5 years. I look to
continue his efforts to implement the Company's strategic vision
and to build on our participation in the transformational Maritime
Complex in Saudi Arabia. Despite the current challenging market
environment, I am confident that Lamprell has the potential and is
well-positioned to deliver sustainable growth in the long
term."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
- Ends -
Enquiries:
Lamprell plc
Christopher McDonald, Chief
Executive Officer +971 (0) 4 803 9308
Tony Wright, Chief Financial
Officer +971 (0) 4 803 9308
Maria Babkina, Investor Relations +44 (0) 7852 618 046
Tulchan Communications, London +44 (0) 207 353 4200
Martin Robinson
Martin Pengelley
Notes to editors
Lamprell PLC, based in the United Arab Emirates ("UAE") and with
over 40 years' experience, is a leading provider of fabrication,
engineering and contracting services to the offshore and onshore
oil & gas and renewable energy industries. The Group has
established leading market positions in the fabrication of
shallow-water drilling jackup rigs, liftboats, land rigs, and rig
refurbishment projects, and it also has an international reputation
for building complex offshore and onshore process modules and fixed
platforms.
Lamprell employs more than 5,000 people across multiple
facilities, with its primary facilities located in Hamriyah,
Sharjah and Jebel Ali, all of which are in the UAE. In addition,
the Group has facilities in Saudi Arabia (through a joint venture
agreement). Combined, the Group's facilities cover approximately
828,000 m2 with 1.9 km of quayside.
Lamprell is listed on the London Stock Exchange (symbol
"LAM").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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