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BOURBON: Corporate Governance Changes at BOURBON


News provided by

BOURBON

Jan 06, 2011, 11:45 ET

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PARIS, January 6, 2011 /PRNewswire-FirstCall/ --

- Christian Lefevre Becomes Chief Executive Officer as of January 1, 2011

- Jacques de Chateauvieux Remains Chairman of the Board of Directors

On the recommendation of Jacques de Chateauvieux, the Board of Directors of BOURBON, meeting on December 6, 2010, decided to separate the functions of Chairman of the Board of Directors and Chief Executive Officer, with effect from January 1, 2011.

Jacques de Chateauvieux, previously Chairman & Chief Executive Officer of BOURBON, will continue to chair the Board of Directors.

Christian Lefevre, previously Executive Vice-President and Chief Operating Officer, has been appointed Chief Executive Officer of BOURBON, with responsibility commencing January 1st.

Gael Bodenes, previously Executive Vice President - Offshore Division - Business Management, has been appointed Executive Vice-President and Chief Operating Officer.

    The Executive Committee is now composed as follows:
    Christian Lefevre, Chief Executive Officer
    Gael Bodenes, Executive Vice-President and Chief Operating Officer
    Laurent Renard, Executive Vice President and Chief Financial Officer

Commenting on the new structure, Jacques de Chateauvieux said: "BOURBON's strategy, totally focused on the offshore oil and gas marine services activity, was clearly established in June 2010, and since then, asset disposals necessary for financing the plan have been carried out. BOURBON's Executive Committee, led by Christian Lefevre, the newly-appointed Chief Executive Officer, is totally dedicated to implementing the BOURBON 2015 Leadership Strategy plan."

Christian Lefevre confirmed that "The roadmap for BOURBON 2015 is very clear, for Managers and Teams. The due execution of the plan is dedicated to the satisfaction of our clients, whom we will continue to serve, providing them with the safest possible marine operations, conducted by skilled and responsible crews, on board the most modern and high-performance vessels, with high rates of availability."

About BOURBON

BOURBON offers a broad range of deepwater and continental offshore oil and gas marine services. Under the new "BOURBON 2015 Leadership Strategy" plan, the company will invest US$ 2 billion to offer its most demanding oil and gas clients a large fleet of 600 innovative and high performance vessels. It will guarantee the highest standard of quality service worldwide, under completely safe conditions.

BOURBON also protects the French coastline for the French Navy.

Classified by ICB (Industry Classification Benchmark) in the "Oil Services" sector, BOURBON is listed for trading on Euronext Paris, Compartment A, and is included in the Deferred Settlement Service SRD and in the SBF 120 and Dow Jones Stoxx 600 indices.

http://www.bourbon-online.com

Christian Lefevre

Chief Executive Officer of BOURBON

Christian Lefevre is a graduate of the French Marine Merchant National School in 1984 and earned his Captain 1st class certification in Marine Navigation in 1988.

He began his career with BOURBON as an officer, then serving as Chief engineer and Offshore Vessel Captain for Bourbon Offshore Surf, before becoming Shore Base Manager in Gabon and then in Cameroon. Subsequently, he was appointed Chief Operating Officer for Bourbon Offshore Surf from 1990 to 1995, then Managing Director of Bourbon Offshore Surf from 1996 to 2001.

In the context of BOURBON's strategy to focus on marine services in 2001, Christian Lefevre became CEO of the Offshore Division of BOURBON.

Since December 2005, he is Executive Vice President and Chief Operating Officer as well as member of the Executive Committee.

He is appointed Chief Executive Officer of BOURBON as of January 1st 2011.

Gael Bodenes

Executive Vice President - Chief Operating Officer

Gael Bodenes is a naval engineer graduate in 1991 from ENSIETA (French Navy High School of Naval Engineering). He also holds a MBA Degree awarded by HEC Paris (Hautes Etudes Commerciales) in 2007.

He began his career for French Navy (DGA) as a naval engineer in the Newbuilding design department, then joined the sales department of the DCN in Brest (France). In 1998, he joined International Shipbrokers Barry Rogliano Salles as senior offshore shipbroker.

In September 2002, Gael Bodenes joined BOURBON as Marketing and Business Development Manager for the Offshore Division. In this position, created in the context of the 2003-2007 strategic business plan involving an investment programme of 1.08bn euros in the offshore business, he supervises the business management of the offshore oil services international fleet. In line with the growth of the business, he contributes to the structuring of the Offshore Division and to the development of the Marketing Department of Bourbon Offshore.

In September 2005, he was appointed Deputy CEO of Bourbon Offshore, before becoming in 2010 Executive Vice President Offshore Division, in charge of Business Management.

As of January 2011, he is appointed Executive Vice President and Chief Operating Officer of BOURBON, as well as member of the Executive Committee.

Laurent Renard

Executive Vice President - Chief Financial Officer

Laurent Renard is a graduate of the Ecole Superieure de Commerce de Paris in 1975. He began his career with the Royal Dutch Shell group, where he held various positions during his 24 years with the group. After a number of assignments in Africa, France and the Netherlands, Laurent Renard was appointed Finance Manager of Oman LNG (Sultanate of Oman) from 1993 to 1996, then Finance Manager for Shell UK Downstream in London from 1996 to 1997, before becoming Finance Manager of Exploration-Production for Shell International in The Hague from 1997 to 2000.

In 2000, Laurent Renard joined Technip-Coflexip, where he created the internal audit department before joining BOURBON in mid-2003 as Chief Financial Officer of the marine services branch.

Since December 2005, Laurent Renard has served as BOURBON Executive Vice President, Chief Financial Officer and is a member of the Executive Committee.

    Contacts

    Publicis Consultants / Press Relations
    Jerome Goaer +33(0)1-44-82-46-24 [email protected]
    Vilizara Lazarova +33(0)1-44-82-46-34
    [email protected]

    BOURBON
    Investors - Analysts - Shareholders Relations
    Patrick Mangaud +33(0)1-40-13-86-09 [email protected]

    Communications Department
    Christa Roqueblave +33(0)1-40-13-86-06
    [email protected]

SOURCE BOURBON

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