Subsea 7, the leading global contractor in offshore energy services, has successfully acquired all the shares in its subsidiary Seaway 7, specializing in offshore renewables. This development was accompanied by an announcement of Seaway 7's subsequent delisting from Euronext Growth Oslo, emphasizing Subsea 7's strategic realignment.
Underlining the company's commitment to bolstering its leadership team, Stuart Fitzgerald, the Chief Executive Officer of Seaway 7, will now rejoin the Subsea 7 Executive Committee, effective from 1 July 2023. Fitzgerald brings with him a wealth of experience, having been an integral part of Subsea 7 since 2000. Over the years, he has held various operational and strategic positions within the group before assuming the role of CEO at Seaway 7 in 2021.
See also: Subsea 7's Renewables Business Reports Net Operating Loss of $18m in Q1 2023
This move further strengthens the Executive Management Team of Subsea 7, ensuring a comprehensive leadership structure to navigate the evolving offshore energy landscape. The team consists of esteemed individuals such as John Evans, Chief Executive Officer; Olivier Blaringhem, Executive Vice President – Subsea and Conventional; Stuart Fitzgerald, Chief Executive Officer – Seaway 7; Mark Foley, Chief Financial Officer; Nathalie Louys, General Counsel; Kate Lyne, Executive Vice President – Human Resources; Phil Simons, Executive Vice President – Projects and Operations; and Marcelo Xavier, Executive Vice President Strategy and Sustainability.
This strategic integration highlights Subsea 7's dedication to enhancing operational efficiency, fostering synergy within its divisions, and solidifying its position in the offshore energy market. The acquisition of Seaway 7 shares and the subsequent reintegration of Stuart Fitzgerald into the Executive Committee represent crucial milestones for the company, ensuring a cohesive and united approach to driving sustainable growth.
In the words of Stuart Fitzgerald, “I am delighted to be rejoining the Subsea 7 Executive Committee. This integration marks an important step in aligning our collective capabilities and expertise to maximize the potential of offshore renewables. By streamlining our operations, we aim to deliver enhanced value to our clients while contributing to the sustainable energy transition.”
