Ashtead Technology Holdings plc Appointment of Non-Executive Director

RNS Number : 5922H

Ashtead Technology Holdings plc

20 March 2024

 

20 March 2024

Ashtead Technology Holdings plc

("Ashtead Technology" or the "Group")

Appointment of Non-Executive Director

 

Ashtead Technology Holdings plc (AIM: AT.), a leading subsea equipment rental and solutions provider for the global offshore energy sector, is pleased to announce the appointment of Jean Cahuzac as a Non-Executive Director of the Group effective immediately.

 

Jean Cahuzac has held senior executive roles in the subsea services sector spanning a period of 40 years. He was appointed Chief Executive Officer of Acergy S.A. in 2008 and in 2011, post-merger, became the Chief Executive Officer of Subsea 7 S.A., a position he held until his retirement in December 2019. Previously, Jean held senior executive roles in Transocean and Schlumberger Sedco Forex.

 

Since retiring from Subsea 7 as the CEO he has remained very active in the sector and in addition to remaining on the board of Subsea 7 as a non-executive director, he also holds non-executive board positions in Bourbon and Seadrill. In addition, Jean currently serves as Chair of Evolen, a French association supporting companies and professionals across all aspects of the energy sector on the evolving sector backdrop and the energy transition.

 

In addition to joining the Board, Jean will also join the Audit, Remuneration and Nomination Committees.

 

Jean Cahuzac said:

"I am very pleased to join the Board of Ashtead Technology; the Company has been on an exciting growth journey over the last few years and has positioned itself well to support the changing offshore energy landscape.  I look forward to working with the Board as it continues to progress its strategic goals."

 

Bill Shannon, Chairman, said:

"I am genuinely delighted that Jean has decided to join the Ashtead Technology board as a Non-Executive Director. Both the length and depth of his experience in the energy services sector are outstanding, and I have no doubt he will bring valuable insight and perspective to Board discussions and decision-making as we continue to grow our business."

 

For further information, please contact:

 

Ashtead Technology Allan Pirie, Chief Executive Officer Ingrid Stewart, Chief Financial Officer	(via Vigo Consulting)
Vigo Consulting (financial PR) Patrick d'Ancona Finlay Thomson Verity Snow	Tel: [phone] [e-mail]
Numis Securities Limited (Nomad and Broker) Julian Cater George Price Kevin Cruickshank (QE)	Tel: [phone]

 

In accordance with Schedule 2 (g) of the AIM Rules for Companies, Jean Paul Cahuzac (aged 70 years) holds/has held the following directorships/partnerships in the last five years:

 

Current directorships/partnerships	Previous directorships/partnerships (last five years)
Bourbon Maritime SAS (Société Phocéenne de Participation) Evolen Seadrill Limited Subsea 7 S.A.	None

 

Jean Cahuzac currently holds no ordinary shares in the Company.

 

There are no further disclosures to made be under Schedule 2(g) of the AIM Rules for Companies.

 

Notes to editors:

 

Ashtead Technology is a leading subsea equipment rental and solutions provider for the global offshore energy sector.  Ashtead Technology's specialist equipment, advanced-technologies and support services enable its customers to understand the subsea environment and manage offshore energy production infrastructure.

 

The Company's service offering is applicable across the lifecycle of offshore wind farms and offshore oil and gas infrastructure.

 

In the fast-growing offshore wind sector, Ashtead Technology's specialist equipment and services are essential through the project development, construction and installation phase. Once wind farms are operational, Ashtead Technology supports customers with inspection, maintenance and repair ("IMR") equipment and services.  In the more mature oil and gas sector, Ashtead Technology's focus is on IMR and decommissioning.

 

Headquartered in the UK, the Company operates globally, servicing customers from its eleven facilities located in key offshore energy hubs.

 

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