Amec Foster Wheeler announces today that Samir Brikho is stepping down as Chief Executive.
Ian McHoul, Chief Financial Officer, has been appointed into the role of interim CEO with immediate effect and will chair the Group Leadership Team whilst the search for the new CEO is conducted. The Company's search will consider both internal and external candidates. Ian is not putting himself forward for the role.
Samir has been the Chief Executive for over nine years and has made a significant contribution to our development over this period, including the re-shaping and re-focusing of the business at the start of his tenure to build up the global company Amec Foster Wheeler is today. On behalf of the Board and everyone at Amec Foster Wheeler I thank Samir for his commitment and contribution. We wish him the best for the future.
Commenting on Ian's appointment, the Chairman said: "The Board has mandated Ian to continue driving forward the Company's previously stated priorities."
It has been a privilege to lead Amec Foster Wheeler at a time of huge change in the global energy and commodities market. My aim has always been to help to create a leading integrated global service company capable of meeting our customer demands. I am so appreciative of the unstinting work and support of the 40,000 colleagues who all contribute to Amec Foster Wheeler's success.
The Company confirms that there are no further details that are required to be disclosed at this time under paragraph LR 9.6.13 R of the UK Listing Rules.
The Company confirms that 2015 trading results are in line with expectations. The full year audited results will be announced on 10 March 2016. Trading for 2016 has started in line with expectations.
The refinancing of the Company's credit facilities is progressing to plan.