Emas Offshore, part of Singapore’s Ezra Holdings, has announced the resignation of CEO and executive director Captain Adarash Kumar.
Kumar has served in the role of CEO since September 2015 and his last day will be April 6. Emas Offshore said Kumar will continue his duties until a new appointment is made.
The company has been undergoing a financial restructuring under the protection of the Singapore courts. It has until April to complete the restructuring, which will see Singaporean companies BT Investment and Point Hope each invest $25m.
Earlier this week parent company Ezra Holdings announced it was granted an extension to file a plan for reorganisation under chapter 11 in the US courts.