Petrofac announces Senior Independent Director Rene Medori as next Chairman

– UK, London – Petrofac Ltd (LSE:PFC), today announces that its Chairman Rijnhard van Tets has notified the Board of his intention to step down from the Board at the May 2018 Annual General Meeting after an 11-year tenure. He will be succeeded upon his departure by current Senior Independent Director René Médori.

Mr van Tets joined the Board in 2007, serving as a Non-executive Director prior to being appointed Chairman in 2014. Mr Médori, who joined as a Non-executive Director in 2012, has recently relinquished his executive role as Finance Director of Anglo American plc.

Mr van Tets said: “After a long tenure I have made the decision to step down at next year’s AGM. I would like to thank my fellow Board members for their support, and the Executive Directors for their continued commitment to the business during the past 11 years.

“I am delighted that the Board has been able to appoint an internal candidate of René’s calibre. His wide international experience and understanding of multi-national businesses, well-established governance knowledge, and understanding of the regulatory landscape, provides an important level of continuity.”

Mr Médori said: “On behalf of the Board I would like to thank Rijnhard for his strong leadership and commitment to Petrofac. His experience through this time has been invaluable. I am delighted to be taking up the role of Chairman next year and excited about the prospect of working with the management team to take the business forward.”

About Petrofac

Petrofac is a leading international service provider to the oil and gas production and processing industry, with a diverse client portfolio including many of the world’s leading integrated, independent and national oil and gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC).

Petrofac designs and builds oil and gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac’s range of services meets its clients’ needs across the full life cycle of oil and gas assets.

With around 13,000 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide.

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