Aker Solutions Makes Management Changes

Friday, September 12, 2008

Aker Solutions announced organizational changes in its Subsea and Products & Technologies business areas. It also announced changes in the company's executive management team.  The changes involve an integration of Aker Marine Contractors, Aker Well Service and Aker Geo into the Subsea business area. In combination with our ownership and cooperation with Aker Oilfield Services, the new structure will also leverage our well intervention services offering. Until now these business units have been part of the Products & Technologies business area. In addition the drilling riser business will be transferred from Subsea to the Products & Technologies business area to further strengthen our drilling solutions.  "We see strong potential for further growth within high margin, value adding services segments in relation to our fast growing installed base of subsea solutions and topside products and technologies," says Lieungh. Mads Andersen and Per Harald Kongelf have been appointed executive vice presidents (EVP) to lead the development of the two revised business areas. Mads Andersen will head the Subsea business, while Per Harald Kongelf will assume the position as EVP for the Products & Technologies business area. Raymond Carlsen who has been EVP of the Subsea business area since 2002 will resign from Aker Solutions and take on a new position in Aker ASA.


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