ASCO Names New CEO and CFO

ASCO plc has appointed Tony Powell Tony Powell (pictured right) as the company's chief executive officer (CEO) and Bill Graham as chief financial officer (CFO).

Mr. Tony Powell commences his appointment as chief executive officer for ASCO plc in May 2003. Powell was previously the CEO of PII Group Ltd., the Pipeline Integrity Management business successfully sold to General Electric in 2002. Prior PII Group, he served 3 years as Managing Director for John Crane Mechanical Seals and 28 years with the Schlumberger Group of companies.

Powell, who was born in Leeds and graduated in Nuclear Physics from Nottingham University, has a wide experience of the Oil & Gas industry and has lived in twelve different countries throughout his career.

Mr. Bill Graham assumed the role of chief financial officer of ASCO plc in April 2003. Graham previously worked with Powell as CFO of PII Group Ltd. Prior to PII, he served as the finance director of Rolls Royce Industrial Power Group and has held senior financial roles in a number of industries including telecommunications, semiconductors, brewing and textiles.

"We are delighted that Tony and Bill have taken up these vital roles," said Keith Mair, chairman of ASCO, plc. "Both have excellent track records and a wealth of international management experience from having grown a successful global business."

"I am pleased to be joining the ASCO team and intend to help grow the business into a global world class enterprise," said Powell. "We are committed to working very closely with our customers to provide excellence of service backed up with the highest level of commitment to safety and the environment."

Both Powell and Graham will be based in ASCO's US Corporate Office in Houston, Texas.

Chris Lloyd who was serving as interim chief executive officer, will return to his role as Managing Director of ASCO's European operations.