Departure of Kreuz Subsea Group CEO

Departure of Kreuz Subsea Group CEO

The board members of Kreuz Subsea have accepted the resignation of Mr. Ashit Jain (AJ), the CEO, who is leaving for personal reasons. The board would like to express its appreciation for AJ’s leadership of the company during the last two and the half years, where the company has made significant strides in building an experienced and capable management team and established sound and rigorous business processes and practices. As a consequence, Kreuz became a Shell approved Diving Contractor and has since expanded its commercial footprint to new markets and new customers. We wish AJ the best in his future endeavours.

Knut Eriksen, Kreuz’s independent non-executive director said, “With a strong and professional management team, the foundations for future success are now well established within the Company. Having interacted with the management team, I am confident that Kreuz is well positioned to capture commercial opportunities that are beginning to emerge and successfully execute on projects”.

An announcement on the incoming CEO will be made in due course.