Gulf Marine Services announces Michael Turner and David Blewden to its Board as Independent Directors

– UAE, Abu_Dhabi –  Gulf Marine Services PLC (LON: GMS) today announced changes to the membership and composition of its Board.

  • Simon Batey, Senior Independent Non-Executive Director, and Chairman of the Audit and Risk Committee since 2014 will not stand for re-election at the forthcoming Annual General Meeting on 28 May 2019 and will retire from the Board.
  • Michael Turner CBE, formerly CEO of BAE Systems, Chairman of GKN and Chairman of Babcock International will join the Board as Senior Independent Non-Executive Director on 1 June 2019 and will chair the Remuneration Committee.
  • David Blewden, currently CFO of Sunny Hill Energy, will join the Board as an Independent Non-Executive Director on 1 June 2019 and will chair the Audit and Risk Committee.

Tim Summers, Non-Executive Chairman of GMS, said: “On behalf of the Board, I thank Simon for his counsel and guidance, as well as his service and contribution to GMS over many years and we wish him all good fortune for the future. I am delighted to welcome Mike, and David, who bring strong track records in relevant industries. Their arrival will reinforce our governance and bring fresh perspectives to the GMS Board.”

About Michael Turner, CBE

Mike Turner CBE is the former Chief Executive Officer (2002-2008) of the aerospace and defense company BAE Systems, after having spent over 40 years at the family of companies holding various roles including, but not limited to; Chief Operating Officer, Executive Chairman, and Managing Director & Chairman of British Aerospace Regional Aircraft. Mike is also former Chairman of GKN (2012-2018) and Babcock International (2008-2019). At GKN, he also held the role of Senior Independent Non-Executive Director (2012-2019).

Mike joined Hawker Siddeley as an apprentice in 1966 and spent his whole career within the BAE Systems family. In addition to GKN and Babcock International, since 2008 Mike has sat on the boards of Barclays Bank PLC and Lazard Limited.

About David Blewden

David Blewden is currently the CFO of Sunny Hill Energy Ltd, a UK private E&P company, and has been in that position since October 2016. He is also currently a Non-Executive Director of New Age Limited. From 2010 to 2016, David was the CFO of Sterling Resources Ltd, a TSX-V listed Canadian E&P company.

From 2006 to 2010, David held CFO positions at several start-ups and private E&P companies. From 2002 to 2006 he was Head of Corporate Finance for Yukos Oil Company and from 2005 -2006 he was Non-Executive Chairman of Intelligent Energy Holdings Plc. He started his career as a Petroleum Engineer at Shell and following that held various investment banking roles focussing on the oil and gas sector.

About Gulf Marine Services PLC

Gulf Marine Services PLC, a company listed on the London Stock Exchange, was founded in Abu Dhabi in 1977 and has become the world’s leading provider of advanced self-propelled self-elevating support vessels. The fleet serves the oil, gas and renewable energy industries from its offices in the United Arab Emirates, Saudi Arabia, and the United Kingdom. The Group’s assets are capable of serving clients’ requirements across the globe, including those in the Middle East, South East Asia, West Africa, and Europe.

The GMS fleet of 13 SESVs is amongst the youngest in the industry, with an average age of eight years. The vessels support GMS’ clients in a broad range of offshore oil and gas platform refurbishment and maintenance activities, well intervention work and offshore wind turbine maintenance work, as well as offshore oil and gas platform installation and decommissioning and offshore wind turbine installation.

The SESVs are categorized by size – Small, Mid-Size and Large Class – with these capable of operating in water depths of 45m to 80m depending on leg length. The vessels are four-legged and are self-propelled, which means they do not require tugs or similar support vessels for moves between locations in the field; this makes them significantly more cost-effective and time-efficient than conventional offshore support vessels without self-propulsion. They have a large deck space, crane capacity and accommodation facilities that can be adapted to the requirements of the Group’s clients. In addition, an innovative well workover cantilever system commissioned on a Large Class SESV in 2017 allows GMS to increase the good intervention activities it can offer from the vessel and supplant higher cost non-propelled drilling rigs.

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