Netherlands-based floater specialist SBM Offshore has announced that Bruno Chabas is leaving the company after 12 years as chief executive.
SBM said Chabas decided not to seek a fourth consecutive mandate at the end of his current term on 12 April.
The company’s supervisory board has appointed Oivind Tangen, currently chief operating officer, to replace Chabas at the top role.
“It has been a huge privilege to serve the company as chief executive for the last 12 years, where I had the honour to lead a team of dedicated people who supported me in transforming and turning this organisation around,” said Chabas.
“Today, the group has a well-established vision, purpose and structure with a leading market position and strong growth prospects in the industry.”
According to SBM, the management board will continue after 12 April as a two-person entity consisting of the new chief executive as well as chief financial officer Douglas Wood.
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Chabas will act as advisor to the company to facilitate a smooth transition during the course of the year as Tangen takes on the reins at SBM.
“I am extremely pleased to hand over my responsibilities to Oivind, who, I am sure, will successfully guide the company to achieve its ambitious energy transition targets,” Chabas added.
Chabas joined SBM in May 2011 as chief operating officer and eight months later was appointed as chief executive.
Prior to that he worked at Acergy, first as chief financial officer, and then as chief operating officer, before the company was acquired by Subsea7 in January 2011.
Oivind started working for SBM more than two decades ago. He was responsible for the company’s fleet of floating production, storage and offloading vessels before becoming chief operating officer in 2022.
“It is a great honour to have been selected as the successor to Bruno in the role of chief executive and chair of the management board of SBM Offshore,” said Oivind.
“Bruno is handing over a company that is in a very strong position, and it is with great enthusiasm I commit to working with the whole SBM team to continue to successfully deliver the company’s strategy for the years to come.”
SBM operates a fleet of 18 units in Brazil, Guyana, West Africa and Southeast Asia, including 17 FPSOs and one semi-submersible production platform.
In late December the most recent floater, the Sepetiba FPSO, started production for Petrobras in the Mero pre-salt field offshore Brazil.
SBM is due to announce its fourth quarter and full-year 2023 results on 29 February.