Ehret to Retire as Acergy CEO in 2008

Acergy has confirmed that CEO Tom Ehret will retire in 2008. The Acergy board of directors appointed consultants to identify candidates for the vacant position. Ehret has accepted the board’s invitation to continue as a non-executive director after the handover to the new CEO.

“I have greatly enjoyed the last five years and I am proud of what we have achieved in delivering Acergy's transformation and its subsequent dynamic growth,” said Ehret. “The Group today has a leading market position, with strong growth prospects across all regions worldwide.”

Some of Ehret’s accomplishments include returning Acergy to profitability in 2004, achieving 35% net operating revenue CAGR from 2004 to 2007 and recording a growth in work force from 5,300 in 2004 to 8,000 in 2007.