SeaBird Exploration Plc: New Chief Executive Officer
04 January 2016 - 6:45PM
4 January 2016, Limassol, Cyprus
SeaBird Exploration Plc ("SeaBird" or
the "Company") is pleased to announce that Mr Christophe Debouvry
has been appointed as new Chief Executive Officer of SeaBird. Mr
Debouvry will assume the position with the Company on 18 January
2016.
The current CEO Mr Dag Reynolds will be
stepping down from his position with effect from 1 January 2016.
Annette Malm Justad, Chairman of the Board, will assume the
position of interim CEO from 1 January until Mr Debouvry
starts.
Christophe Debouvry has a long track
record in international offshore operations and finance including
more than 20 years with the leading seismic company CGG Group where
he was most recently CFO for CGG Services. Since he left CGG in
2010, he has in particular worked with Oaktree Capital Management
on the build-up of the UK-based Harkand Group, an offshore service
provider. Throughout his career he has spent many years based
outside Europe including in Asia Pacific, North Africa and South
America. He has held senior management roles in seismic operations
including Manager for CGG in Asia Pacific and Managing Director of
Subseaco in Trondheim, Norway, and in the executive team of CGG
including as SVP Strategy & Finance.
Christophe is a French citizen born in
1966. He holds a MSc in Electrical Engineering and an MBA from
Insead.
Chairman of the Board, Mrs Annette Malm
Justad, comments: "The Board of Directors of SeaBird is pleased to
announce the appointment of Christophe Debouvry as the Company's
new Chief Executive Officer. His set of competencies we believe
will be vital to the Company in meeting the challenges of the
current seismic market. The Board of Directors takes the
opportunity to thank Mr Reynolds for his valuable services to the
Company."
Christophe Debouvry says: "I am pleased
to join SeaBird, a company that has developed a unique position
within the seismic industry over the years, and am looking forward
to joining forces with the team for preparing the company to emerge
reinforced from the current market turmoil."
SeaBird is a global provider of marine
acquisition for 2D/3D and 4D seismic data, and associated products
and services to the oil and gas industry. SeaBird specializes in
high quality operations within the high end of the source vessel
and 2D market, as well as in the shallow/deep water 2D/3D and 4D
market. Main focus for the company is proprietary seismic surveys
(contract seismic). Main success criteria for the company are an
unrelenting focus on Health, Safety, Security, Environment and
Quality (HSSEQ), combined with efficient collection of high quality
seismic data. All statements in this press release other than
statements of historical fact are forward-looking statements and
are subject to a number of risks, uncertainties and assumptions
that are difficult to predict, and are based upon assumptions as to
future events that may not prove accurate. These factors include
SeaBird`s reliance on a cyclical industry and the utilization of
the company's vessels. Actual results may differ substantially from
those expected or projected in the forward-looking
statements.
For further queries, please
contact:
Annette Malm Justad
SeaBird Exploration Plc Chairman
Phone: +47 95209396
Nils Haugestad
SeaBird Exploration CFO
Phone: +47 22402700
This information is subject of the
disclosure requirements pursuant to section 5-12 of the Norwegian
Securities Trading Act.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: SeaBird Exploration Plc via Globenewswire
HUG#1976333
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