Prosafe's CEO resigns, company begins search for replacement

Source: Prosafe

President and CEO Arne Austreid tendered his notice of resignation to the Board of Directors of Prosafe SE.

"I have been with Prosafe for 12 years. It has been exciting to be a part of the successful development of Prosafe, and a privilege to lead Prosafe to what it is today. I will miss many skilled colleagues when I leave Prosafe. I have, however, accepted an offer for a leading position in a company outside the oil industry," says Arne Austreid.

"We regret that Arne Austreid has decided to leave Prosafe. He has delivered a solid performance for the company, and contributed to the success of Prosafe. I wish Arne Austreid every success in his future endeavours," says Chairman of the Board of Prosafe SE, Michael R. Parker.

The Board will immediately start the process of recruitment of a successor; however Arne Austreid will continue in his current position for a period of up to six months in order to ensure a smooth transition.

Prosafe is the world's leading owner and operator of semisubmersible accommodation/service rigs. Operating profit reached USD 218.6 million in 2009. The company operates globally, employs approx. 400 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS.



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