Solstad Offshore chief financial officer Anders Hall Jomaas is moving on after clinching a new refinancing deal for the offshore support vessel group.
The executive is joining John Fredriksen's wellboat company DESS Aquaculture Shipping as its finance boss. He has spent three years with Solstad, which shareholder Fredriksen agreed to back with a stock purchase on Monday.
Jomaas is being replaced by Kjetil Ramstad with immediate effect.
Ramstad was previously Solstad's finance director, having joined in 2018 from DeepOcean Group, where was CFO and finance director.
He was with the offshore vessel operator from 2008.
Solstad chief executive Lars Peder Solstad said: "I am very pleased to have Kjetil as new CFO in Solstad. He has a strong financial background and a solid operational experience from global businesses."
Ramstad will work with vice president of finance, Eivind Kvilhaug, to form a "very strong financial team", he added.
Outstanding job
"I would like to thank Anders who has done an outstanding job as CFO for Solstad Offshore since he was appointed in 2017," Solstad continued.
"In particular, he has been instrumental in the financial restructuring process the company has been in for the last 18 months."
Solstad said on Monday it had won agreement from the majority of lenders, as well as bondholders, for a long-term refinancing which will see the banks take over the company as $1.1bn of debt is swapped for equity.
The group will now sell off 37 non-core ships, while Fredriksen, fellow tycoon Kjell Inge Rokke and Lars Peder Solstad will build their combined stakes back up to 33% in the company through buying new shares.
Their holding will be temporarily reduced to 0.4% after the refinancing is signed off.
DESS Aquaculture Shipping was formed by Fredriksen's Marine Harvest and Deep Sea Supply in 2016. Solstad gained a stake in the company when Deep Sea Supply was merged into it in 2017.
Jomaas would also have overseen the deal that saw Solstad sell its remaining 20% holding in DESS to Fredriksen in 2019 as it sought to cut debt.
