The executive chairman of international oilfield service company Expro has temporarily taken on the additional role of chief executive.
The move by Graeme Coutts follows this month’s departure of Gavin Prise after less than a year in the post.
Aberdonian Mr Coutts, who is in his 21st year with Expro, was CEO for seven years before becoming chairman last year.
Mr Coutts, 50, said yesterday the exit of Mr Prise, who was previously Expro’s chief operating officer for three years, was down to a variety of factors. He added: “With the owners thinking about the anticipated upturn in the oil industry, they felt they needed someone with different skills as chief executive going forward.
“Gavin had been with us for 15 years and he had made a valuable contribution to the business in that time.
“I also think he was looking for a fresh challenge. His departure was by mutual agreement.”
Expro, which employs about 700 people in Aberdeen out of a worldwide workforce of around 5,000, was sold to private-equity interests in July, 2008, for £1.81billion.
The consortium of Candover, Goldman Sachs Capital Partners and AlpInvest Partners was successful in its move for the company, despite interest from US giant Halliburton.
Mr Coutts said Expro was beginning a search for a new CEO, who will be based in Aberdeen alongside most of the other senior management team.
Regarding its current financial performance, Mr Coutts said Expro’s was among the best in its peer group, adding: “We are perfectly placed to take advantage of our customers’ needs for increased technology and services in the upturn.”