Bumi Armada CEO to step down next year

Kuala Lumpur: Hassan Basma will step down as the CEO and executive director of Malaysia-listed Bumi Armada, effective January 1, 2015.

Chan Chee Beng, a member of Bumi Armada’s board of directors since 2003, will step in as executive director and acting CEO from January. Chan has been a member of the company’s executive committee since 2008 and its chairman since last year.

Basma is leaving “for family reasons”, an exchange filing said today. Bumi Armada’s board has approved his request for an early release from his contract of employment.

Basma will relinquish his directorships in other companies within the Bumi Armada Group, but will continue to be engaged as a consultant to the firm “where required and appropriate, on specific projects”, the company says.

“The board has initiated steps to search for a new CEO, with in-depth relevant experience in the offshore and marine services industry,” the company said today. [5/12/14]

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