Mads Andersen, new CEO of Aibel

Stavanger, Norway, 14 June 2016

President and CEO Jan Skogseth will, in accordance with his employment contract, retire following his 62nd birthday. Mads Andersen (51) will take over as the new President and CEO from 1 January 2017. Skogseth will hold an advisory role in the company until spring 2017.

Mads Andersen, new CEO of Aibel
Mads Andersen (image: OneSubsea).

"The Board of Directors would like to take this opportunity to thank Skogseth for his immense efforts. He has done an excellent job for a number of years and leaves the company in a very good position," says Chairman of the Board of Directors at Aibel, Helge Midttun.

Skogseth has held the role of President and CEO since 2008 and wishes to retire at the age of 62, as permitted by the employment contract.

"Aibel has been a fantastic company to manage and I am convinced that the company's strong position will continue to develop, both within existing and new areas," says Skogseth.

The Board of Directors have undertaken a thorough and extensive process in the selection of the new President and CEO. Many candidates have been assessed, both men and women, within and outside the company. The chosen candidate was Mads Andersen, current president at the Schlumberger-owned OneSubsea. Mads Andersen is a qualified civil engineer and business economist and was part of the executive management team at Aker Solutions for several years. He has extensive experience of the oil and gas industry, both within project execution, subsea and international business. This means that Andersen has an excellent basis for the further development of the company.

Aibel is in the midst of a demanding period with major industry challenges but also many opportunities.

"The company has a strong position within field development, the maintenance and modification market as well as renewables. This position, as well as opportunities within new areas, provide the company with an excellent basis for further development. I am entering my new role with enthusiasm and a great deal of respect and I want to contribute to a development that is in the best interest of employees, customers and owners. I am looking forward to having the opportunity to work with many talented employees," says Mads Andersen.

Chairman Midttun led the Board's Employment Committee, which was responsible for the selection process, with support from a renowned international recruitment company.

"We have carried out extensive searches and we have assessed a number of candidates. The candidate we were looking for had to have broad management experience as well as experience of and expertise from the oil and gas industry. This is a prerequisite for being successful in the role," says Midttun.

Click to download high-resolution image of Mr. Mads Andersen

Helge Midttun, Chairman of the Board of Directors at Aibel: +47 9133 5790
Bjørg Sandal, VP Communications: +47 48 868 726


Aibel is a leading service company within the oil and gas industry and is established in renewable energy.

The company`s around 4,500 employees in Norway and abroad are engaged onshore and offshore. With eight locations in Norway, the company is located near the customers. In addition to operations in Norway, Aibel is also located in Thailand, Singapore and Denmark.

Published 2016-06-14, 08:00 CET Updated 2016-06-14, 08:00 CET

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