Kreuz Subsea CEO Resigns
Kreuz Subsea revealed Wednesday that its board members have accepted the resignation of group CEO Ashit Jain.
In a statement posted on the company’s website, Jain was said to be leaving for “personal reasons”. The statement revealed that an announcement on the incoming CEO will be made “in due course”.
Jain holds over 25 years of executive industry experience and has held a number of leadership positions in the oil and gas industry across the globe, according to Kreuz’s website. Kreuz announced the appointment of Jain as CEO in October 2017.
“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,” Kreuz said in a company statement.
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,” Eriksen added.
Kreuz describes itself as a provider of integrated subsea solutions to the energy industry. The company, which was established in 2008, is headquartered in Singapore and employs approximately 95 people, according to its website.
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