Subsea Tech Firm Ashtead Names CFO and Five Managers

Ashtead Technology has appointed a chief financial officer (CFO) and five managers for newly created roles across its international team.

The company said the appointments underline the company's "strategic growth plans to cement its leading position in the global offshore energy market and build on its recent success in new and emerging markets, including in offshore wind and decommissioning."

Ingrid Stewart assumed the new CFO position this week, bringing 23 years of corporate finance experience to the Aberdeenshire headquartered business which employs 170 people around the world.

Stewart spent eight years with EnerMech Group as corporate development director where she managed the completion and integration of multiple acquisitions for the firm, as well as developing and executing long-term strategies. Prior to this, she was a member of the senior UK management team at Simmons & Company International, becoming the investment bank’s first-ever female corporate finance director in 2009.

A specialist in subsea construction, IMR, and decommissioning services, Ashtead Technology has acquired five businesses since 2017 and, as a result, the company says, boasts one of the largest equipment fleets in the industry and a depth of associated services capability.

Stewart said: “After watching the business successfully grow through acquisition over the past few years and increase its foothold in the offshore renewables and decommissioning sectors, I am thrilled to be joining the talented team at Ashtead Technology. The company has significant growth potential and I’m looking forward to supporting its future aspirations.”

The new Aberdeenshire based managerial hires across Ashtead Technology include Lili Hughes, as group QHSE manager, Stephen Booth as decommissioning BD manager and asset integrity project manager Michael Gibson. In addition, Mark Vela has joined as US operations manager in Houston, and Dan Davies has taken up his new role as NDT market manager within the company’s inspection solutions team in Bedfordshire, England.

Ashtead Technology CEO Allan Pirie said: “Ingrid’s substantial corporate finance and energy industry experience will make a significant contribution to our growth ambition as we further integrate and invest in our global operations to support the increase in business in offshore wind, decommissioning, and oil and gas.

“Bolstering our management team in the UK and the US will ensure we are well equipped to support our clients as we navigate the current challenges and capitalise on the opportunities presented by the energy transition and the blue economy.”