UTEC, an Aberdeen-headquartered subsidiary of subsea services group Acteon, said yesterday it had promoted chief operating officer Stuart Cameron to the role of chief executive.
Mr Cameron, who joined Utec last May after senior management roles at Subsea 7 and the now defunct Ceona, replaces company co-founder Martin O’Carroll in the hotseat.
Mr O’Carroll, who retires today, said: “I am pleased to hand over the reins to Stuart.
“I know the new leadership is poised to do great things in what is still a challenging trading environment.
“My time with Utec has been a rewarding experience, and I know I am leaving the business, clients and employees around the world in a strong position.”
Mr Cameron has spent more than 20 years in the international subsea construction sector, working in the UK, US and Asia.
The Robert Gordon University quantity surveying graduate is based in offices in Bridge of Don, where Utec has its newly created HQ alongside group companies Intermoor, Aquatic and 2H Offshore.
“Martin’s hard work and passion has led to what Utec is today,” Mr Cameron, said, adding: “There is no doubt that his focus on creating a truly global presence, building an enviable track record and strong focus on quality has ensured he leaves Utec in a very strong position.
“Together with my global leadership team, I am looking forward to continuing to build on this.”
Martin O’Carroll, who has more than 25 years’ industry experience, co-founded Utec in 2005.
The company has grown to become one of the largest global surveying businesses, employing more than 300 people.
It has operations in the UK and overseas locations including the US, Mexico, Canada, Ghana, Nigeria, Australia, Brazil, Canada, Indonesia, Norway, Singapore and Middle East.
Acteon’s huge portfolio of subsea businesses also includes Claxton, J2 Subsea, Seatronics and Team Energy Resources, all of which are either based in or have operations in the Aberdeen area.
The Norwich-based group announced its acquisition of Utec, for an undisclosed sum, in September 2014.