– UAE, Dubai – Lamprell PLC (LON: LAM) today announced the appointment of Motassim Al Maashouq to its Board as an Independent Non-Executive Director with effect immediately.
“I am very pleased to announce that Mr Al Maashouq has agreed to join us as an independent Non-executive Director. He has extensive experience of debt and equity capital markets and is a highly capable addition to our Board, particularly in light of his knowledge of the Saudi market. In recent years the centre of gravity for our Oil and Gas business unit has increasingly shifted to Saudi Arabia, and Mr Al Maashouq brings invaluable experience and insight as we continue on this journey. He brings many years of experience in the global energy industry, in both senior management and advisory roles and has shown a keen interest in our renewables and digital strategies. I am very pleased to welcome him on to our Board.” said Board Chairman, John Malcolm.
He added: “Lamprell’s track record in the oil and gas industry enables us to access the opportunities available in the Middle East as we actively seek to transition our Oil and Gas business unit to Saudi Arabia. Mr. Al Maashouq’s credentials speak for themselves and his contributions to the Board will be invaluable as we continue to evolve the Board and the business.”
About Motassim Al Maashouq
Mr. Al Maashouq has over 35 years’ global experience in the energy sector with a career forged in Saudi Aramco and its international joint ventures. Before he retired from Saudi Aramco in June 2020, he held several strategic roles within the Group, including Vice President of New Business Development, Vice President of Corporate Planning, and Group Treasurer. He also led the company’s preparation for the IPO from 2016. His earlier career highlights include the roles of President and CEO of Petro-Lube in 1999 in Saudi Arabia, and of the Petron Corporation in the Philippines in 2000.
Mr. Al Maashouq holds an MA in Area Studies, (Economics, Politics, and Law) from the University of London’s School of Oriental and African Studies.
With his extensive experience and expertise in the global energy industry, Saudi Arabia, as well as capital markets, Mr. Al Maashouq will complement the capabilities of the current Board in driving Lamprell’s strategy forward both in the near and long term. The Board composition will continue to evolve in close alignment with the Group’s “Lamprell reimagined” strategy, which has structured the business into the Oil & Gas, Renewables, and Digital business units.
Lamprell is a leading provider of services to the international energy sector. Driving strategy and growth through its Renewables, Oil & Gas, and Digital business units, underpinned by almost half a century of expertise, the Group has worked hard to establish its reputation for delivering projects safely, on time, and budget.
The Group has firmly established its international credentials in the renewables sector as well as continuing to build on its traditional oil and gas credentials. We are recognized for building complex offshore and onshore process modules and platforms, fabricating and refurbishing jack-up rigs and liftboats.
Lamprell employs more than 4,000 people across multiple facilities, with its primary facilities located in Hamriyah, in the UAE. Combined, the Group’s facilities cover approximately 800,000m2 with over 1.5 km of quayside. In addition, the Group has facilities in Saudi Arabia (through a joint venture agreement). Lamprell is listed on the London Stock Exchange (symbol “LAM”).”
For more information: https://www.lamprell.com/
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