Prosafe initiates large shore-based reorganisation

Prosafe initiates large shore-based reorganisation

Financially struggling Prosafe, the world’s top accommodation rig provider, is implementing a reorganisation of the group’s shore-based business and is cutting the size of its group management team.

Robin Laird, current deputy ceo, will assume the position as acting cfo, while Stig Christiansen continues as acting ceo.

The board of directors is still hunting for a new ceo.

“The rationalisation is necessary to ensure that the Prosafe group remains competitive in the current difficult market conditions and in a solid position for future growth when the industry starts to recover,” the company said in a release.

The proposed workforce rationalisation, meanwhile, is designed to help reduce annual costs by between $30m to $40m a year.

In addition, the target is also to reduce capex spend noticeably in the near and medium term.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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