(Alliance News) - James Fisher & Sons PLC on Friday appointed former Smiths Group PLC executive Jean Vernet as its new chief executive.
The Cumbria, England-based marine services company said that Vernet will take up the position of CEO on September 5.
Vernet has experience working in the offshore energy sector both in the UK and globally, James Fisher noted. He was most recently chief executive of Smith Group's largest division, John Crane.
Current James Fisher CEO Eoghan O'Lionaird will step down in September, though he will remain employed by the company until June 13, 2023, to ensure a smooth handover.
Chair Angus Cockburn said: "I am delighted to welcome Vernet to James Fisher. He is an internationally experienced business leader with extensive energy sector knowledge. He is ideally suited to turning the business around and leading it through the current challenging backdrop and then to position the group to capture the medium to long term growth opportunities available."
Shares in James Fisher were down 1.3% to 309.00 pence each in London on Friday morning.
By Sophie Rose; sophierose@alliancenews.com
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James Fisher and Sons (FSJ)
Smiths Group (SMIN)