Norwegian energy contractor Subsea7 said on Tuesday that CEO John Evans will retire later this year and will be succeeded by Stuart Fitzgerald.
Evans, a company veteran, will retire on June 30 and Fitzgerald will take over starting July, the company said in a statement.
Fitzgerald is currently CEO of Seaway7, part of the Subsea7 Group. He has also been proposed as CEO of the combined entity after the completion of a planned merger of Subsea7 with Italian oil services firm Saipem, the company said.
In 2025, Saipem agreed to merge with rival Subsea7 in a deal valued at about $4.63 billion to create a global player — to be renamed Saipem7 — in offshore energy services.
"The board would like to thank John for his strong leadership and valuable contribution to the company as CEO - he has shown true commitment and passion for the business over the last 40 years," commented Kristian Siem, Subsea7 Chairman.
"Stuart has made significant contributions over the course of his career with Subsea7 in both operational and strategic roles, and, in recent years, he has led the turnaround of the Seaway7 business.
"Stuart has the full support of the board of Subsea7 as he continues his journey in this new role. I am confident that, under his leadership, Subsea7 will continue to thrive, both in the near term and as we navigate the merger with Saipem."
(Reporting by Bipasha Dey in Bengaluru; Editing by Sahal Muhammed)
