Amec Foster Wheeler's outspoken CEO Samir Brikho has stepped down today, the firm announced this morning.
Ian McHoul, the firm's CFO, has been appointed into the role of interim CEO with immediate effect and will chair the group leadership team while the search for the new CEO is conducted.
John Connolly, Chairman, said: "Samir has been the CEO for over nine years and has made a significant contribution to our development over this period, including the re-shaping and re-focusing of the business at the start of his tenure to build up the global company Amec Foster Wheeler is today."
The company cut its dividend by half in November as it attempts to survive a slump in oil prices - which are now below US$30/bbl.
Brikho, who has led Amec since 2006, oversaw the company's $3 billion acquisition of Swiss engineering group Foster Wheeler in 2014, when oil prices were more than $100/bbl.
Amec Foster Wheeler says its 2015 trading results are in line with expectations. The full year audited results will be announced on 10 March 2016. Trading for 2016 has started in line with expectations. The refinancing of the company's credit facilities is a;sp progressing to plan.
Brikho said: "It has been a privilege to lead Amec Foster Wheeler at a time of huge change in the global energy and commodities market. My aim has always been to help to create a leading integrated global service company capable of meeting our customer demands. I am so appreciative of the unstinting work and support of the 40,000 colleagues who all contribute to Amec Foster Wheeler's success."
Brikho's details and biography where already removed from Amec Foster Wheeler's website this morning.
Prior to joining Amec Foster Wheeler, Brikho - who was born in Beirut and raised in Sweden - was a member of the group executive committee of ABB Ltd., Switzerland. Brikho holds an engineering degree, a Master of Science in Thermal Technology from the Royal Institute of Technology in Stockholm, Sweden.
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