Subsea 7 will celebrate the new year with a new chief executive, following the retirement of Jean Cahuzac in December after 11 years in the role.

He will be succeeded from 1 January 2020 by John Evans, who since 2005 has been chief operating officer of the subsea engineering, construction and services company, which owns a fleet of offshore construction vessels.

Kristian Siem, chairman of Subsea 7, thanked Cahuzac for his leadership and his "valuable contribution" to the company.

"We are fortunate that John Evans, who has a deep understanding of the business and a wealth of experience, will succeed Jean as CEO and the board looks forward to working directly with him," Siem said.

Cahuzac has been in the industry for 41 years and worked previously for Transocean and Schlumberger.

Following his retirement, he will continue as a non-executive director of Subsea 7.

Evans has over 30 years' experience in the offshore energy services industry, the company said.