Aker Solutions has reportedly changed its management structure as it looks to bring cost improvements to the company.
According to reports, the move has been taken to help further value for the Norwegian firm.
It includes hiring Dean Watson from Schlumberger who will become the new chief operating officer.
From November 1st Aker Solutions will have five divisions which includes Customer Management, Retail, Products, Projects and Services.
In a statement, chief executive Luis Araujo said the measure was being taken to create even “greater synergies” within the group strengthening the company’s value for customers and shareholders.
The move is also being seen as a way to help contribute to further standardisation and increase cost efficiency by 30%.
Aker’s engineering manager Valborg Lundegaard will lead customer management, Svenn Ivar Fure will continue to lead the company’s retail business and Egil Boyum will lead Products.
Maintenance manager Knut Sandvik will take the charge on Projects while Aker’s Africa chief executive will lead the Services department.
Svein Stoknes will continue as chief financial officer.
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