ASCO Appoints New Non-Executive Chairman

ASCO Group Limited has appointed Mike Salter, former chief operating officer of Abbot Group plc, as the new non executive chairman of the Board.

Billy Allan, ASCO chief executive officer (CEO), said: "Mike comes to us with a wealth of strong corporate experience dominated by his career in the international oil and gas industry. He will be a great addition to the business.

When ASCO was acquired by Phoenix Equity Partners in October 2006, the plan was to appoint a non executive chairman to the Board. Until now, I have been serving in the position of chairman and CEO and it was time to separate these roles. Through this appointment, I will be able to better focus my complete attention on my role as chief executive."

ASCO currently has eight people on its Board of Directors who are responsible for the stewardship and governance of the ASCO business.

Previously, Mike Salter served as vice president/general manager for all UK and European operations for Bawden Drilling (UK) Ltd in the 1980s. From 1990 to 1995, he was chief executive in the UK for Smedvig Limited before joining Abbot Group plc, initially as development director, but was later appointed chief operating officer in 1997.

Salter retired as a director and Main Board member of Abbot Group at the end of July 2007 but has been retained in a part time capacity as chairman of Bentec -- the Group's land rig building company based in Germany. He also holds a number of other non executive and advisory roles including chairman of Ferguson Modular Ltd, Red Spider Technology Ltd, CQS Rig Finance Fund and is president of the Aberdeen & Grampian Chamber of Commerce.

Mike Salter said: "ASCO is a growing global company that is committed to delivering more to their clients and customers, both internally and externally, and I am happy to be a part of it! I am delighted to be joining ASCO's Board of Directors and am looking forward to this new challenge. The new management team have made some significant changes in the way the company approaches its business. They are doing a great job and the business is definitely headed in the right direction -- I think we have a terrific future!"


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