Oil and gas engineering firm Lamprell announced Monday that James Moffat has now taken up his role as CEO of the group.
The UAE-based company said that Peter Whitbread, who had been acting as interim CEO since October, will continue to sit on its board and will support Moffat in an executive capacity.
Lamprell Chairman John Kennedy commented in a statement:
"I would like to welcome Mr Moffat into the group and I look forward to working closely with him as we re-position the company for renewed growth and profitability.
"We have made significant progress over the last six months, focusing on our core strengths, and we are keen to continue the great work undertaken by Mr Whitbread since his appointment. I would also like to take the opportunity to thank Mr Whitbread for his efforts and I am pleased that he has agreed to stay on and help with the process for rebuilding the business."