December 4, 2022

Petrofac CEO to step down, shares fall

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Oilfield providers supplier Petrofac Ltd mentioned on Tuesday that Sami Iskander would step down as chief govt officer on the finish of March 2023 and get replaced by Tareq Kawash, a senior govt at power agency McDermott.

Iskander took the helm in 2020 and steered Petrofac by means of an investigation by Britain’s fraud workplace into the corporate’s dealings within the Center East, in addition to the market volatility of the COVID pandemic and extra lately the Russia-Ukraine conflict.

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