3 October 2016
("Lamprell" or "Company" and with its subsidiaries the "Group")
ARRIVAL OF NEW CEO
Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, announces that Christopher McDonald has now taken up his role as Chief Executive Officer (CEO) for the Group and as an executive director on the Board. James Moffat, who has been in the role of CEO since March 2013, has stepped down but will continue to support Mr McDonald full time until mid-November when he will take up his part-time consultancy role. John Kennedy will continue in the role of Executive Chairman until such time as the transition to the new CEO has been completed, to ensure a smooth and orderly transition to the new management.
John Kennedy, Executive Chairman, Lamprell, commented:
"On behalf of the Board I would like to welcome Mr McDonald into the Group and I look forward to working closely with him. Lamprell is entering a challenging period as it responds to the continuing downturn in the market and I am confident that Mr McDonald's wealth of experience in business development will help to re-position the Company for renewed growth. I would also like to take the opportunity to thank Mr Moffat for his significant efforts since early 2013 which have re-established Lamprell's reputation for high build quality, a world class safety record and for working collaboratively with our clients."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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This information is provided by RNS