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Petrofac chief financial officer set for pastures new

Petrofac Saudi UAE
Petrofac news.

Petrofac said today that its chief financial officer, Alastair Cochran, will leave the energy services firm.

Mr Cochran has decided to take up a new role outside the group, starting September 1 2021.

Afonso Reis e Sousa, currently group treasurer and head of tax, will succeed Mr Cochran.

He has been with Petrofac for eight years, and spent the early part of his career in investment banking, focusing on the energy and infrastructure sectors.

He has occupied a variety of senior finance posts at Petrofac and most recently led the company’s refinancing.

Chief executive Sami Iskander said: “I would like to thank Alastair for his tremendous contribution and personal commitment over the last five years, together with his support in recent months since my appointment as CEO.

“Alastair has pioneered our transformation back to a capital-light business and leaves Petrofac strongly positioned for efficient and effective execution as markets recover and we rebuild our order book. I wish him and his family every success in the future.

“I am also delighted to have such an excellent successor and partner in Afonso, who knows the business extremely well, has been a key member of our finance leadership team, and provides continuity at an important time as we rebalance, reshape and rebuild the business. I look forward to working with him in the years ahead.”

Mr Cochran said: “The decision to leave was not an easy one. I am very proud of everything we have achieved as a team during my time with the group, including the strategic and functional transformations that we have delivered.

“I leave Petrofac in very capable hands and am delighted to be handing over in the coming months to Afonso, whose skills and expertise equip him well to lead Petrofac during the next phase of its evolution. I wish Afonso, Sami and the entire team every success in the future.”

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