Norwegian marine geophysical company Petroleum Geo-Services (PGS) has appointed Rune Olav Pedersen as its new president & CEO.

Pedersen is replacing Jon Erik Reinhardsen who is moving on after nearly ten years to take the role of chairman of Statoil.

Walter Qvam, chairman of PGS, commented: “The board has run a thorough succession process since early spring, and assessed a number of very qualified Norwegian and international candidates. With
the appointment of Mr. Pedersen, PGS will get a CEO with deep knowledge of the company and industry and with strong execution capabilities. We look forward to working closely with Mr. Pedersen in the time to come.”

Pedersen has worked at PGS for seven years and is currently serving in the position of executive vice president & general counsel.