Newton Aycliffe-based offshore energy services firm Tekmar Group said on Thursday it appointed Alasdair MacDonald as chief executive officer with immediate effect.
MacDonald was chairman of Tekmar Energy for five years, prior to the company’s flotation in June 2018, when he became non-executive chairman of the new entity, Tekmar Group plc.
He has been leading the group as executive chairman since James Ritchie, founder and long-term CEO of the business, announced he was stepping down from the role in August 2020 to pursue other business opportunities.
“Alasdair has over 30 years’ experience in offshore energy, holding senior executive roles at Wellstream Holdings plc, the FTSE 250 designer and manufacturer of flexible pipeline systems to the oil and gas industry, Seanamic Group, a supplier of integrated systems to the offshore energy, defence, seismic and oceanographic science industries, and Technip UK, the offshore subsea construction services business,” said Tekmar Group.
“An engineer by trade, he graduated with an honours degree in mechanical engineering.
“The appointment follows a rigorous recruitment process conducted by an executive search firm, involving both internal and external candidates.
“Final interviews concluded that Alasdair was the strongest candidate for the role with his extensive knowledge of the markets in which the group operates and his in-depth understanding of the business.
“He will immediately transition into the CEO role, minimising any disruption from further leadership changes in the business.
“Alasdair will now lead a review of the internal operations and activities of the business with a view to implementing further efficiencies from integration across the group and will provide an initial update on this process at the end of this month.”
Julian Brown, currently a non-executive director, has been elected as non-executive chairman.
MacDonald said: “The prospects for the renewable energy market have never been stronger.
“The price of electricity from wind power competes with an advantage over electricity from fossil fuels.
“Tekmar Group is the market leader in cable protection systems and has a globally recognised brand which along with subsequent acquisitions places the group in a strong position for long term sustainable growth.
“That said, the Covid-19 pandemic and the potential market disruption from Brexit, mean the short term is not without its challenges. B
“y early December, we will be in a good position to provide a more substantial update on the group’s performance in the year to date and the strategic outlook for the business, in which I remain extremely confident.”