Resignation of CFO
John Wood Group PLC announces that Arvind Balan, Chief Financial Officer (‘CFO’), has tendered his resignation and the Board have accepted this with immediate effect.
This followed the incorrect description of his professional qualifications in various statements in the public domain.
Arvind Balan said:
“Regrettably, I made an honest oversight with respect to the description of my professional qualification as a chartered accountant instead of a certified practicing accountant.
“I continue to believe in the long-term potential of the company and its people. My decision is based on minimising distraction at this very pivotal time with our investors and lenders”.
Ken Gilmartin, CEO, said:
“On behalf of the Board and the company, I would like to wish Arvind all the best in his future endeavours”.
An announcement on his successor, and interim cover, will be made in due course.
For further information:
Simon McGough, President, Investor Relations +44 (0)7850 978 741
Alex Le May / Ariadna Peretz / Nick Hasell, FTI Consulting +44 (0)20 3727 1340