SBM Offshore announces CGCO to retire and join supervisory board

SBM Offshore announces that Sietze Hepkema has decided to retire as Chief Governance and Compliance Officer (CGCO). Mr. Hepkema will continue to serve in his current role as CGCO until the Annual General Meeting of Shareholders on 15 April 2015 at which time it will be proposed that he join the Company’s Supervisory Board. At that time, it will also be proposed that Erik Lagendijk succeed him.

Mr. Lagendijk joins SBM Offshore on 2 January 2015 following a distinguished 25-year career in the financial services industry. His leadership experience includes 14 years as General Counsel of AEGON N.V., a Dutch listed international insurance company, where he was most recently responsible for building a mature regulatory and compliance function. He will be responsible for overseeing the legal, compliance and risk functions; all areas in which he has gained significant relevant experience while at AEGON N.V.

Mr. Hepkema’s anticipated retirement has been part of the Management Board succession planning process for the last several months. The Supervisory Board is of the view that the CGCO function at Management Board level has created significant value for the Company, and has decided to maintain it. Under his guidance the Company has greatly enhanced its governance and compliance functions while also closing a number of legacy issues. Until his retirement, Mr. Hepkema will continue to oversee the final issues remaining from the Company’s compliance investigation in Brazil.

Bruno Chabas, CEO of SBM Offshore said, “We thank Sietze for his many contributions to the success of the Company, particularly in his unwavering commitment to further advancing governance and compliance within SBM Offshore. Given the weight attached to the Chief Governance and Compliance Officer function, we are pleased to have him succeeded by someone as experienced as Erik Lagendijk.”

Heinz Rothermund, Chairman of the Supervisory Board of SBM Offshore also said: "Sietze has played a crucial role in transforming the Company culture and we are pleased to retain his services at the Supervisory Board level as it reinforces the Company's continued commitment to strong governance.”

Read the article online at: https://www.oilfieldtechnology.com/exploration/17122014/sbm-offshore-announces-sietze-hepkema-chief-governance-compliance-officer-2015/