International oilfield service firm Hunting said today that its chief executive had agreed to step aside once a replacement is found.
London-listed Hunting, which has a number of bases in the north-east, said the move was part of the firm’s “longer term succession planning”.
Dennis Proctor was appointed to the board of Hunting in 2000 and was made chief executive in 2001, based in Houston.
Chairman Richard Hunting said: “Over the past 16 years, Dennis has led Hunting to achieve a wide range of business successes including shareholder value creation, strategy and portfolio simplification, excellence in quality and expansion of manufacturing capacity across the globe, positioning the company for sustained growth in future business cycles.
“His consistency in delivering higher levels of performance and his personal commitment has allowed shareholders, customers, suppliers and especially Hunting staff and managers to benefit from his leadership of the company through these years.
“We have now begun the process of identifying a new chief executive who will continue with the strategy of growth and delivering shareholder value.”
As of September 6, Hunting employed 210 people across four locations in the Aberdeen area: Altens, Dyce, Portlethen and Fordoun.