Bumi Armada Bhd, a Malaysia-based international offshore oilfield services provider, reports that, due to family reasons, Hassan Basma, the company’s CEO and executive director, has requested an early release from his employment contract, and the board of directors has agreed to this request.
Basma will relinquish his positions with the company on Jan. 1, 2015. He will also relinquish his directorships in other companies within the Bumi Armada Group, but will continue to be engaged as a consultant to the company on specific projects.
The board has initiated steps to search for a new CEO. Pending the appointment of a new CEO, Chan Chee Beng, a member of the board since 2003, has been re-designated as executive director and acting CEO, effective Jan. 1, 2015. Chan has also been a member of the Executive Committee of Bumi Armada since 2008, acting as its chairman from 2013.