Neptune Marine chief executive officer Christian Lange has quit after discussions with the company's board on its structure and future direction.
Neptune Marine chief executive officer Christian Lange has quit after discussions with the company's board on its structure and future direction.
He will be replaced in an acting capacity by Neptune's regional vice president Robin King.
Mr Lange had been in the position since February 2006.
The change is reportedly in an effort by the board to resurrect an $80 million capital raising.
In a statement to the Australian Securities Exchange, Neptune's chairman Ross Kennan said, "We are very grateful to Christian for the significant contribution that he has made to the leadership, management and advancement of Neptune."
"Christian's vision and tenacity was instrumental in the transformation of Neptune from a local, single product company to the global, multi-faceted business that we have today.
"We certainly wish him every success in all his future endeavours," Mr Kennan said.
He said that Mr King, who has been with Neptune since September, brings a wealth of managerial experience to the position.
See company statement below:
PERTH, Western Australia: The Board of Neptune Marine Services Limited (ASX: NMS) today announced the appointment of Mr Robin King as the company's acting Chief Executive Officer.
Mr King, Neptune's current Regional Vice President for Australia, New Zealand and PNG, joined Neptune in September 2010 from Technip Subsea 7 (TS7) Asia Pacific where he held the position of CEO.
Neptune's Chairman, Mr Ross Kennan, said: "Robin's wealth of managerial experience and the respect that he has among his peers in the international oil and gas industry will help ensure that Neptune is well positioned to move forward with confidence into the future."
Mr King's appointment follows the decision by Christian Lange to step down as Neptune's Managing Director and CEO, a position he held since February 2006. His departure follows discussions with the Board on the company's structure and direction moving forward.
"We are very grateful to Christian for the significant contribution that he has made to the leadership, management and advancement of Neptune. Christian's vision and tenacity was instrumental in the transformation of Neptune from a local, single product company to the global, multi-faceted business that we have today. We certainly wish him every success in all his future endeavours," Mr Kennan said.
