As planned, Paul van Riel stepped down as CEO and chairman of the Board of Management.
Harrie Noy, chairman of the Supervisory Board: “I want to thank Paul for his dedication and perseverance, in leading Fugro through the unprecedented market downturn while maintaining its strong market positions as independent services provider. At the same time Fugro changed into a much more client focused organisation, delivering integrated service packages to its customers. We wish Paul all the best for the future.”
Paul van Riel: “In the past few years we have transformed the company to deal with changing markets and a deep downturn. It is encouraging that the oil and gas market is now stabilising. Working with and building Team Fugro has been the key motivator for me in my years at the company. I am also grateful to other stakeholders for their continued support. Since the start of the year I have had the pleasure to work closely with Øystein Løseth, my successor, to introduce him to Fugro staff and key clients around the world. I am confident that, working together with the management team and Fugro staff, he will lead Fugro back to better times.”
Paul van Riel was succeeded by Øystein Løseth, who has extensive management experience at board level in major companies in the oil & gas and energy industries. Before joining Fugro, he was on the Board of Directors of Statoil, a listed international energy company with 20,000 employees in 30 countries, of which the last two years as Chairman of the Board.