Amec chief Samir Brikho resigns
Amec Foster Wheeler chief executive Samir Brikho has stepped down after nine years that have transformed the business.
In his time Amec has m oved away from civil engineering and construction and refocused on the offshore and energy sector; it also acquired US-listed Foster Wheeler for £2bn in 2014.
Chief financial officer Ian McHoul has been made interim CEO while a replacement for Mr Brikho is found. Mr McHoul said he was not putting himself forward for the role permanently.
Chairman John Connolly said: "Samir has been the chief executive for over nine years and has made a significant contribution to our development over this period, including the re-shaping and re-focusing of the business at the start of his tenure to build up the global company Amec Foster Wheeler is today.”
Although Mr Brikho’s departure is sudden and follows a significant deterioration in global energy market conditions, there is no suggestion that he has been pushed out. The company said that 2015 trading results are in line with expectations and 2016 had also started in line with expectations. The refinancing of credit facilities is also progressing to plan.
Samir Brikho said: "It has been a privilege to lead Amec Foster Wheeler at a time of huge change in the global energy and commodities market. My aim has always been to help to create a leading integrated global service company capable of meeting our customer demands. I am so appreciative of the unstinting work and support of the 40,000 colleagues who all contribute to Amec Foster Wheeler's success."
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This article was published on 18 Jan 2016 (last updated on 18 Jan 2016).