Eidesvik Offshore has given interim chief executive Helga Cotgrove the job on a permanent basis.
The Oslo-listed platform supply vessel company’s chief financial officer had stepped up to fill the role after Gitte Gard Talmo left in September.
“The board is very pleased that Helga Cotgrove has accepted the position,” chairman Arne Austreid said.
“She has extensive experience within the industry and has been the CFO of the company for two years. We have conducted a thorough search process and it is clear to us that Cotgrove is the best suited to lead the company going forward,” he added.
Cotgrove joined in 2022. She is a former Halliburton director of corporate development.
“I am looking forward to continuing the journey with Eidesvik and its talented team,” the new CEO said.
“We have made substantial progress the last two years growing the business and improving margins, investing in additional tonnage, and refinancing the company creating a very strong balance sheet. I am excited to take part in building and growing the company further,” she added.
Cotgrove has more than 20 years of energy-sector finance experience in roles within mergers and acquisition, strategy, tax, accounting and auditing.
She was recruited from the role of CFO at solar power plant company Norsk Solar.
Gard Talmo heads to Scotland
Vice president of finance Lars Tufteland Engelsen has been acting as temporary CFO.
Gard Talmo served as Eidesvik’s CEO since the beginning of 2022.
She left to take over at Scottish offshore shipowner North Star.
Gard Talmo succeeded Jan Fredrik Meling as Eidesvik CEO when he retired at the age of 65 after holding the position since 2005.
Last week, Eidesvik produced its best financial figures for nearly eight years thanks to its long-term contract coverage.
The owner said net profit in the third quarter was NOK 39.6m ($3.6m), versus NOK 51m in the same period of 2023.
Revenue rose to NOK 207.1m from NOK 204.4m year on year.
