Gulf Marine Announces Board Change and New Appointment

Source: 2/5/2021, Location: Middle East

GMS, a leading provider of advanced self-propelled, self-elevating support vessels serving the offshore oil, gas and renewables industries, is pleased to announce the following board change and appointment.

Deputy Chairman

Hassan Heikal has agreed to step into the role of Deputy Chairman of the Group, with immediate effect. Hassan joined the Board in November 2020, as a Non-Executive Director. He has extensive experience in finance, having been co-founder and Co-CEO of EFG Hermes, a leading investment bank based in the Middle East.

Non-Executive Director

Jyrki Koskelo is joining the Group as an Independent Non-Executive Director, again with immediate effect. Jyrki brings extensive additional business advisory experience to the Board, having had a distinguished career in public and private finance, across multiple markets.

Jyrki is currently a Board member, and chair of the Investment Committee, of Africa Agriculture and Trade Investment Fund, based in Luxembourg. He is also a Board member of EXPO Bank, the Czech Republic, part of the Expobank Group, a member of the Supervisory Board of FIBank, Bulgaria, and Chairman of Invest Solar, an investment vehicle focused on Botswana.

Between 1987 to 2011, Jyrki held various senior positions within the Washington based International Finance Corporation, part of the World Bank Group and the largest global development institution focused on the private sector in developing countries. He has also previously been a Senior Advisor to the Al Jaber Group, a Board member of the African Banking Corporation and a Board member of the African Development Corporation.

There are no additional matters requiring disclosure under Rule 9.6.13R of the Listing Rules.

Commenting, Mansour Al Alami, Executive Chairman of GMS, said:

"We are delighted that Hassan has agreed to step into the role of Deputy Chairman and that Jyrki has agreed to join the Board of GMS. Both Hassan and Jyrki have extensive and relevant experience that will be invaluable to the Board and the development of the wider Group".

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