Record Growth the Catalyst for Chairman Change at Geoquip Marine

Following a protracted period of record growth, offshore geotechnical engineering and drilling company Geoquip Marine has reorganised its board of directors.

The supervisory board of directors will now be chaired by Peter Østergaard Nielsen, who became a director in 2019. He is a senior lawyer with Danish legal practice Bech Bruun and has extensive, specific experience in international wind farm development.

Geoquip CEO Stewart Higgison said: “This is an important strategic development for Geoquip. The historic core business for the company has been in the oil and gas sector but a significant percentage of the record growth we have experienced over the last three years has come from the offshore energy market. This is now structurally our core market and one we intend to keep growing over the long term.”

“Peter has been the principal negotiator in many high-profile international offshore development projects. In addition to his detailed experience of international business transactions and his insight into the energy sector, Peter is particularly valued for combining his legal skills with a commercial and technical understanding of the projects in which he is involved. Our plans for the years ahead are focussed on serving the needs of our customers in the growing offshore renewables sector, whilst at the same time conciliating our market position in specific regions where the demand for oil and gas developments will clearly remain high. Peter is ideally suited to lead us to achieve that objective.”

Outgoing chairman Andrew Wright remains a key member of the board of directors and will now be able to refocus his time on Geoquip’s growing efforts in the technical development of equipment and assets while simultaneously managing certain key customer relationships.

Higgison added: “Under Andrew’s chairmanship, Geoquip Marine has experienced a tremendous turnaround in performance over the last three years. Andrew is by a margin the most experienced member of this board and his reputation is synonymous with the offshore geotechnical industry.

“He himself has been the main driver for the changes now being effected, recognising that Peter’s unique knowledge and experience are precisely what the business needs to move forward and meet its future objectives. This change liberates a significant amount of Andrew’s highly valuable time to lead the rest of the team in relation to key research and development projects as well as other high impact matters on the operational side of the business.”

More About This Company