SENIOR MANAGEMENT STRUCTURE REVISED AND SIMPLIFIED SCHIEDAM, Netherlands, Dec. 3, 2013 (GLOBE NEWSWIRE) -- In order to facilitate strategic decision-making and further management efficiency SBM Offshore announces that it has reduced the top of its governance structure from three layers, comprising of the Supervisory Board, Management Board and Board of Management, to two by removing the Board of Management. The Management Board (comprised of the CEO, CFO and CGCO) and the SBM Offshore business model remain unchanged. A new position of 'Group Executive Managing Director' has been created reporting to the CEO with Bernard van Leggelo, formerly Managing Director of the SBM Houston Execution Centre, having been appointed to this new role with immediate effect. He will focus on the execution of the Company's operational strategy and long-term planning. A broad portfolio of responsibilities is assigned to the Managing Directors responsible for the performance of their Execution Centre. With immediate effect, all Managing Directors will report directly to the CEO and have a functional reporting line to the new Group Executive Managing Director. Furthermore, the position of Chief Technology Officer has been retitled 'Group Technology Director' to reflect the structural reform.Michael Wyllie will continue in that role with unchanged responsibilities. Bruno Chabas, CEO, SBM Offshore said: "I am pleased to announce a further evolution of our management structure. Our successes thus far in 2013 are showing the merits of our organizational model, and these adjustments will facilitate faster decision-making.Our focus continues to be on flawless execution of projects and attaining the highest levels of client satisfaction.We all welcome Bernard van Leggelo to the new position of Group Executive Managing Director, a role in which he can bring to bear his considerable experience of delivering for SBM's clients." Bernard Van Leggelo has been with SBM since 1995 and in his current role as Managing Director of the SBM Houston Execution Centre since 2007. Mr. van Leggelo has an MS in Ocean Engineering from the University of Connecticut, USA, and a BS in Mechanical and Electrical Engineering from Ecole Centrale, Brussels, Belgium. He will relocate to Monaco to take up his new role. Corporate Profile SBM Offshore N.V. is a listed holding company that is headquartered in Schiedam. It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore group ("the Company"). SBM Offshore provides floating production solutions to the offshore energy industry, over the full product life-cycle. The Company is market leading in leased floating production systems with multiple units currently in operation, and has unrivalled operational experience in this field. The Company's main activities are the design, supply, installation, operation and the life extension of Floating Production, Storage and Offloading (FPSO) vessels. These are either owned and operated by SBM Offshore and leased to its clients or supplied on a turnkey sale basis. Group companies employ over 9,600 people worldwide, who are spread over five execution centers, eleven operational shore bases, several construction yards and the offshore fleet of vessels. Please visit our website at www.sbmoffshore.com. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate entities. In this communication "SBM Offshore" is sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies. Schiedam, December 3, 2013 For further information, please contact: Investor Relations Nicolas D. Robert Head of Investor Relations Telephone: +377 92 05 18 98 Mobile: +33 (0) 6 40 62 44 79 E-mail: email@example.com Website: www.sbmoffshore.com Media Relations Anne Guerin-Moens Group Communications Director Telephone: +377 92 05 30 83 Mobile: +33 (0) 6 80 86 36 91 E-mail: firstname.lastname@example.org Website: www.sbmoffshore.com Disclaimer Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company's business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "may", "will", "should", "would be", "expects" or "anticipates" or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. To see the complete version of this press release, please click on the link below SBM Offshore Press Release http://hugin.info/130754/R/1747453/588357.pdf HUG#1747453
SENIOR MANAGEMENT STRUCTURE REVISED AND SIMPLIFIED
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