Flexlife, an oil and gas industry specialist in subsea project and integrity management, today announced a restructuring of its executive team which it says will position the business for further major global growth.
The Aberdeen-based company has expanded significantly in the last 12 months, with projects completed around the world and long-term agreements in place with a number of operators for integrity management services.
As well as moving into a new HQ in Aberdeen Science and Energy Park in 2011, staff numbers rose from 70 to 110 and Flexlife opened new bases in Brazil, the US and Newcastle.
Board member Dave Cassie, a former vice-president at Subsea 7, has been appointed the first executive chairman of Flexlife.
Mr Cassie also works with Aberdeen marine-technology company Nautronix, where he became director of strategy a year ago.
Flexlife co-founding director Stuart Mitchell has taken up the new role of director of strategic development. The firm also said that chief operating officer John Marsden will have an increased focus on ensuring long-term partners continue to receive an excellent service.
Mr Marsden said: “The last year has been one of fantastic growth for Flexlife, not just in terms of turnover but also people, regional offices and major successes in securing long-term strategic contracts for integrity and project management.
“There have also been significant efforts in selling our cutting-edge integrity products and services, while we have won a number of long-term frame agreements against stiff competition – in a lot of cases generating a whole new market to sell into.
“Flexlife was Scotland’s fastest-growing young company in 2010 and we kept that growth going in 2011.” The full executive team comprises Mr Marsden, Mr Mitchell, commercial director Charles Cruickshank, chief financial officer John Duncan, Mr Cassie and board member Sandy Clark.
Flexlife reported an increase in turnover of more than 50% for 2010-11, with a rise from £4.8million to £7.5million. A further rise to around £15million is predicted for 2011-12.