LONDON (Alliance News) - Gulf Marine Services PLC on Thursday announced the appointment of a new finance chief financial officer and non-executive, three days after its chair bowed to shareholder pressure to resign.
The oil and gas industry vessel provider has hired Stuart Jackson as CFO, effective from "early summer". He has over 30 years' experience in the energy sector, Gulf Marine said.
Mohammed Bississo will be joining as a non-executive director from March. He is currently co-head of Kasamar Holdings, which owns 9.8% of Gulf Marine.
On Monday, Gulf Marine said it was close to a new CFO appointment, and was also looking to hire a UAE-based non-executive director.
Chair Simon Heale said: "We are delighted to welcome both Jackson and Bississo, with their notable financial and industry experience, to the Gulf Marine board. Stuart brings a deep knowledge of capital restructuring in the oilfield services sector and of the vital role of communications in public markets.
"Mohammed, too, will be a valuable addition to our board and, particularly given his expertise in the UAE financial sector, most helpful in our engagement with the company's local banking syndicate.
On Monday, Heale stepped down after consulting with shareholders. He will depart once a replacement is found.
At the end of January, 14% shareholder Seafox International Ltd made a move to remove Heale and replace him with former News International and current Times Newspapers chair Andrew Knight.
Seafox welcomed Heale's decision, but also said it still wants to press ahead with a resolution to appoint 5.5% shareholder Abdullah Mazrui to the board.
Gulf Marine shares were 3.1% higher on Thursday at a price of 18.35 pence each.
Gulf Marine Services (GMS)