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Offshore consultants AqualisBraemar to change CEO

© Supplied by AqualisBraemarAqualisBraemar CEO
David Wells (left) and his successor Reuben Segal (right).

The chief executive of offshore energy consultancy firm AqualisBraemar LOC (OSLO: AQUA) has announced plans to step down.

David Wells will retire at the end of the year but has agreed to support the group in an advisory role thereafter.

Oslo-listed AqualisBraemar LOC’s board of directors has appointed Wells’ co-founder and current chief operating officer as the new CEO.

The change will take effect for January 1 2022.

Glen Rødland, chairman of AqualisBraemar, said: “I have worked closely with both David and Reuben since we started our discussions about Aqualis Offshore. Since then, David, Reuben and the rest of the management team has built up a leading global company within the offshore energy and marine consultancy niche.

“With David not getting any younger, moving Reuben into the COO role in 2016 was part of the long-term succession plan for the CEO role. The board would like to thank David for his excellent leadership, and we look forward to cooperating even more closely with Reuben going forward.”

What started as a dedicated marine and offshore oil and gas consultancy with a handful of employees in 2013, has grown into a global group that employs more than 900 people in 39 countries worldwide.

Today, AqualisBraemar LOC offers independent energy and marine consultancy to the global renewables sectors – including offshore and onshore wind, floating solar and hydrogen – and the maritime and oil and gas industries.

Its portfolio of companies includes Innosea, Offshore Wind Consultants, Longitude and East Point Geo.

Mr Wells said: “It has been an honour to be able to lead this company for so long. Besides the successful growth, I’m particularly proud of the role we are playing in the global energy transition.

“We identified very early offshore wind as a high growth industry, but we also knew that our experience from the offshore oil and gas and maritime industries would be crucial to support our clients in their energy transition drive. I am delighted to deliver on this strategy and that Reuben has accepted the CEO role.”

Mr Segal has been the COO of AqualisBraemar LOC since 2016.

Prior to that he headed up the group’s Middle East operation.

He has more than 25 years’ experience in the offshore and shipping sectors, covering both engineering design and ship surveying.

He is a naval architect and has extensive global business development experience with focus on design and construction of offshore assets.

Mr Segal said: “I very much see my role as continuation of the work David and I have been doing together for the past nine years. In my opinion most metrics are pointing in the right direction for AqualisBraemar LOC.

“We continue to improve our operation and our capital efficiency and are excellently positioned in some exciting high growth industry sectors. We will do everything we can to capitalise on these opportunities.”

Succeeding Segal as COO is another of the Aqualis Offshore co-founders, Bader Diab.

He is currently AqualisBraemar LOC’s regional managing director of the Americas region.

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