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November 09, 2021

For further information, please contact:

Investors and financial media

Stuart Jackson, CFO, ABL Group ASA
Telephone: +971 4 3793612

Other media enquiries

Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no

About ABL Group ASA

ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil & gas sectors. The group has offices in 39 countries worldwide and operates under four brands: ABL, OWC, Longitude and AGR.

CEO change in AqualisBraemar LOC ASA

David Wells, CEO of AqualisBraemar LOC ASA, has announced that he wishes to retire at year-end and step down as CEO of the group. The board of directors has appointed Wells’ co-founder and current COO of AqualisBraemar LOC, Reuben Segal, as new CEO.

The CEO change takes effect from 1 January 2022. Further, David Wells has agreed to support the group in an advisory role thereafter.

“I have worked closely with both David and Reuben since we started our discussions about Aqualis Offshore. Since then, David, Reuben and the rest of the management team has built up a leading global company within the offshore energy and marine consultancy niche. With David not getting any younger, moving Reuben into the COO role in 2016 was part of the long-term succession plan for the CEO role. The board would like to thank David for his excellent leadership, and we look forward to cooperating even more closely with Reuben going forward,” says Glen Rødland, chairman of AqualisBraemar LOC ASA.

David Wells and Reuben Segal.

What started as a dedicated marine and offshore oil and gas consultancy with a handful of employees in 2013, has grown into a global group that employs more than 900 people in 39 countries worldwide.

Today, AqualisBraemar LOC offers independent energy and marine consultancy to the global renewables sectors – including offshore and onshore wind, floating solar and hydrogen – and the maritime and oil and gas industries.

Reuben Segal has been the COO of AqualisBraemar LOC since 2016. Prior to this he headed up the group’s Middle East operation. He has more than 25 years’ experience in the offshore and shipping sectors, covering both engineering design and ship surveying. He is a naval architect and has extensive global business development experience with focus on design and construction of offshore assets.

“I very much see my role as continuation of the work David and I have been doing together for the past nine years. In my opinion most metrics are pointing in the right direction for AqualisBraemar LOC. We continue to improve our operation and our capital efficiency and are excellently positioned in some exciting high growth industry sectors. We will do everything we can to capitalise on these opportunities,” says Reuben Segal.

Succeeding Segal as COO is another of the Aqualis Offshore co-founders, Dr. Bader Diab. Diab is currently AqualisBraemar LOC’s regional managing director of the Americas region. He is a structural and global performance engineer with 30 years’ offshore engineering experience.