Board Changes and Management Reorganisation for Bibby Offshore

Bibby Offshore has announced several Board changes as part of a reorganisation of the Company’s management team to reflect its ongoing growth.

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Sir Michael Bibby will step down from the Board as Non-Executive Chairman of Bibby Offshore with effect from 20 February 2015 and be replaced by Mike Brown, who is currently Group Portfolio Director for Bibby Line Group.

Sir Michael continues as Managing Director of Bibby Line Group. Mike was appointed as Group Portfolio Director in September 2014 in response to the increasing size and complexity of Bibby Line Group’s businesses, including Bibby Offshore. A key responsibility of the Group Portfolio Director includes the Chairmanship of a number of Bibby Line Group’s businesses. Mike has extensive experienced gained through senior roles with BOC Group, GKN, Serco and Rentokil-Initial; and most recently as a Managing Director at Interserve.

Neale Stewart is appointed with immediate effect to the newly created position of Chief Operating Officer (Assets and Services), from his previous role as Finance Director. As Chief Operating Officer (Assets and Services), Neale will be focused on the management and optimisation of our extensive global asset fleet and resource pool, which includes seven subsea support vessels and 17 remotely operated vessels.

Stuart Jackson will move to the role of Chief Financial Officer with immediate effect, expanding Stuart’s responsibilities from his previous role as Strategy Director. Prior to joining the Company in 2014, Stuart held a number of roles in the energy sector during his 30 year career including as Chief Financial Officer of Acergy before its merger with Subsea 7 and, most recently, Chief Financial Officer at CEONA, the Goldman Sachs start-up venture in the offshore services sector.

In addition, Simon Featherstone, Chief Executive Officer of Bibby Financial Services, will be joining the Board as a Non-Executive Director from 20 February 2015; replacing Jon Haymer and Iain Speak. Gaurav Batra will continue as Bibby Line Group’s other nominated Non-Executive Director for Bibby Offshore.

Howard Woodcock, Chief Executive of Bibby Offshore commented:

“The reorganisation of our Board and management team is reflective of the success Bibby Offshore has experienced in recent years, both in the North Sea and internationally, and the need to ensure our business is best placed to continue to grow.

On behalf of the Board, I would like to thank everyone for their contribution to helping make Bibby Offshore the company it is today. We are now fully equipped to enter the next exciting phase of our growth and evolution, with a Board and management team that has invaluable expertise and deep industry insight.”

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