3rd May 2016 06:56
LONDON (Alliance News) - Energy services company Lamprell PLC on Tuesday said Executive Chairman John Kennedy and Chief Executive James Moffat have agreed to extend their roles as the group continues to search for a new CEO.
The pair will remain in the roles until the end of 2016, Lamprell said, and Moffat's consultancy agreement with the company will run until the end of March 2017.
Lamprell added it will cut a further 8.0% of its workforce as it seeks to cut costs to cope in the tough environment for companies serving the struggling oil and gas industry. It will also target further operating and overhead savings.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
LAM.L