Subsea services firm Ashtead Technology has announced an expansion to its management team as part of efforts to “cement its position” at the forefront of the global offshore energy market.
Ingrid Stewart has taken up the new position of chief financial officer (CFO), bringing 23 years of corporate finance experience to the business, which is headquartered in Westhill just outside Aberdeen.
A further five managers have been appointed to newly created roles in the firm’s international team as part of wider “strategic growth plans”.
Ashtead, which employs 170 people across its nine global bases, said it is hoping to “build on recent successes” in new and emerging markets, including offshore wind and decommissioning.
Ms Stewart joins the north-east equipment specialist having spent eight years with EnerMech Group as corporate development director.
During her time at the asset support firm she managed the completion and integration of multiple acquisitions, as well as developing and executing long-term strategies.
Prior to this, Ms Stewart was a member of the senior UK management team at Simmons & Company International, becoming the investment bank’s first ever female corporate finance director in 2009.
In her new role at Ashtead, she will work with the senior team, alongside current finance director Richard Hehir, to position the company for further growth.
She said: “After watching the business successfully grow through acquisition over the past few years and increase its foothold in the offshore renewables and decommissioning sectors, I am thrilled to be joining the talented team at Ashtead Technology. The company has significant growth potential and I’m looking forward to supporting its future aspirations.”
A specialist in subsea construction, inspection maintenance and repair (IMR) and decommissioning services, Ashtead has undergone a period of expansion in recent years.
Since 2017 it has acquired five businesses and, as a result, it claims to boast one of the largest equipment fleets in the industry.
Ashtead’s new managerial hires for its north-east base include Lili Hughes as group QHSE manager, Stephen Booth as decommissioning BD manager and Michael Gibson as asset integrity project manager.
In addition, Mark Vela has joined the team based in Houston as US operations manager while Dan Davies has taken up the role of NDT market manager within the company’s inspection solutions team in Bedfordshire, England.
Allan Pirie, Ashtead chief executive, said: “Ingrid’s substantial corporate finance and energy industry experience will make a significant contribution to our growth ambition as we further integrate and invest in our global operations to support the increase in business in offshore wind, decommissioning, and oil and gas.
“Bolstering our management team in the UK and the US will ensure we are well equipped to support our clients as we navigate the current challenges and capitalise on the opportunities presented by the energy transition and the blue economy.”