EPC giant Petrofac announced today that Sami Iskander, group chief executive, will leave the business at the end of March 2023 in order to “pursue other interests.”
Tareq Kawash, who currently serves as SVP of McDermott, will succeed Iskander effective 1 April 2023, following an orderly handover. He will also be appointed as an executive director to Petrofac’s board of directors.
Iskander took charge as Petrofac’s CEO in 2020 and steered the company through an investigation by Britain’s fraud office into the company’s dealings in the Middle East, as well as the market volatility of the COVID pandemic and more recently the Russia-Ukraine war.
“I joined Petrofac with the task of setting the business on the right course for sustainable growth, resolving historic issues and positioning the group for the future. After an intense period, Petrofac is today in a stronger position,” Iskander said in a statement.
With 30 years of international EPC leadership experience, Kawash is “exceptionally well placed to build on the foundations laid by Sami. We look forward to welcoming him to Petrofac,” Petrofac’s Chairman René Médori said.
Petrofac was named as one of the top contractors on Oil & Gas Middle East’s Top 25 EPC List, which was published last month.
