Economy
Petrofac announces appointments to its Board of Directors |
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| Economy | |
| Written by Zarina de Ruiter | |
| Wednesday, 25 January 2012 | |
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René Médori joins as a non-executive director and Marwan Chedid joins as as an executive director. Oil & gas service provider Petrofac Limited (LON:PFC) has announced two new appointments to its Board of Directors with immediate effect. René Médori (54) joins the Board as a non-executive director. Médori is finance director of Anglo American PLC, a role he has held since September 2005 after joining the company in a senior executive role in June 2005. Previously Médori was group finance director of The BOC Group PLC between June 2000 and May 2005, having held several finance appointments, including as finance director of BOC’s gases business in the Americas, from 1997. He is also a non-executive director of Scottish and Southern Energy PLC and Anglo Platinum Limited. Médori will join Petrofac’s Audit, Nominations and Risk Committees. Marwan Chedid (51) joins the Board as an executive director. Chedid joined Petrofac in 1992 when the international business was first established in Sharjah, and is now the chief executive responsible for Petrofac’s Engineering, Construction, Operations & Maintenance (ECOM) division. He has extensive oil & gas industry experience, having previously worked for Consolidated Contractors Company (CCC), a major civil and mechanical construction business based in the Middle East, for eight years. Prior to his role at CCC, Chedid spent two years with Kettaneh in Lebanon. Chedid holds 1,288,924 shares in Petrofac Limited and also has an interest in 72,939 shares under the Company's Performance Share Plan and 90,496 shares under the Company's Deferred Bonus Share Plan. Norman Murray, Petrofac’s Chairman, commented: "It gives me great pleasure to welcome René Médori and Marwan Chedid to the Board of Petrofac. René has considerable international financial experience in relevant industries and a well-established knowledge of governance and regulatory matters. "Marwan has worked for Petrofac for 20 years and has in-depth knowledge of our core markets and the broader oil & gas sector, along with outstanding commercial, operational and engineering expertise. Both have a wealth of experience which I am certain will further strengthen and enhance the Board of Petrofac and we look forward to working with them." |
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