Abbot Group Appoints Chief Executive Officer

Holger Temmen has been named Chief Executive Officer (CEO) of Abbot Group Limited and the KCA DEUTAG group of companies. This is a new position created in anticipation of further significant international growth and follows the takeover of Abbot Group plc by US private equity firm First Reserve earlier this month. Alasdair Locke remains Executive Chairman of Abbot Group Limited (formerly Abbot Group plc).

Commenting on the appointment, Alasdair Locke said: "Under First Reserve's ownership we plan to double the size of the business in the next few years through organic growth and acquisition, to become a multi-billion dollar organisation. Holger has the vision, energy and experience to lead the company through what will be a challenging few years. He has played a key role in the strategic development of the business over the last five years and we are very pleased to appoint him as Chief Executive Officer."

Holger Temmen said: "Our strategy for the Group is to continue expanding internationally, consolidating our operations in our core geographical areas of Europe, the Middle East, north and west Africa, Russia and the Caspian Sea, and strengthening our position in areas such as Asia where we see the potential for long-term growth.

"This is a particularly exciting stage in the company's development and I look forward to leading a strong management team in taking the business forward to become one of the world's leading drilling contractors."

An Economics graduate of Fachhochschule Mûnster in Germany, Holger Temmen joined the DEUTAG Group of Companies in 1990 as a Financial Controller, travelling widely implementing new financial and reporting structures in several different international locations. In 1998 he became Head of Finance and Control for DEUTAG International and in 2000 Managing Director of DEUTAG Europe. Following the acquisition of DEUTAG by KCA in 2001, he took over responsibility for the Business Development and Commercial function and was appointed to the Board of Abbot Group plc in 2005.