New Aker management to boost efficiency measures

Aker Solutions is in the process of assigning a new executive team to help pick up the pace in the efficiency measures currently being implemented at the major offshore supplier. The target is a 30 percent reduction across the organization. A new COO has been recruited from Schlumberger.
Photo: Hjalmar Otto Fjøsne/Aker Solutions
Photo: Hjalmar Otto Fjøsne/Aker Solutions

Replacements are underway at the top executive levels of major Norwegian offshore supplier Aker Solutions, and the first task for the new executive team is already waiting.

With a new Chief Operating Officer as the highest level of change, a team of new executives will oversee the implementation of a new efficiency program which aims to improve efficiency throughout the organization by 30 percent.

"The move will speed up our global improvement efforts by putting in place even leaner work flows, eliminating duplication and cultivating our strengths," says CEO of Aker Solutions, Luis Araujo in a press release.

The new COO is Dean Watson, who was brought in from Schlumberger, where he has held various executive positions. And an additional four new members for the executive team have been found internally, while the current head of subsea, Alan Brunnen, and the head of operational improvements and risk management, Tore Sjursen, will leave Aker at the end of the year.

As ShippingWatch has previously reported, Aker Solutions suffered setbacks in the second quarter of this year, as revenue decreased to USD 828 million against USD 947 million in the same quarter last year, while profit before taxes (EBIT) dropped to USD 37.7 million from  USD 44 million in the second quarter of 2015.

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