Bumi Armada Names New CFO

Malaysia based international offshore oilfield services provider, Bumi Armada Berhad announces has appointed former Maersk Oil man as its Chief Financial Officer.

 

Kenneth Murdoch has been appointed as the new Chief Financial Officer (“CFO”) of Bumi Armada Berhad to succeed Shaharul Rezza Hassan who moves to lead the Offshore Support Vessel (OSV) business, with effect from 18 November 2013. Prior to joining Bumi Armada, Kenneth was the chief financial officer of Maersk Oil based in Denmark. Before that, Kenneth worked for Schlumberger Ltd during which he took on several regional and global roles with increased responsibility in Finance and Tax related functions, in various locations around the world including Dubai, Moscow, Stavanger, Aberdeen, Houston, Paris and London.

Murdoch with him more than 23 years of collective international exposure and experience as a chief financial officer, accountant, tax manager and controller in the oil and gas industry. As a member of the Maersk Oil executive team, he was involved in business strategy, driving business performance, mergers and acquisitions and oil and gas reserves reporting. Kenneth, aged 48, is an Associate of the Chartered Institute of Management Accountants, the United Kingdom and graduated with a Bachelor of Arts (Hons) in Business Economics from Paisley University in Scotland.

Rezza, aged 42, Bumi Armada’s CFO since 2005, will assume the position of Head of OSV business commencing immediately. The OSV segment contributes 33% of the Group’s total business revenue. This move is part of the Company’s career development plan to broaden Rezza’s international exposure in the Group’s core operations. With his intimate knowledge and understanding of the Group’s business, Rezza is expected to drive performance and growth and implement strategies to enhance operational and business efficiencies in the OSV business. Rezza will continue as an Executive Director of Bumi Armada.

During his tenure as CFO, Rezza has contributed positively to the growth of the business and successfully raised multi-billion Ringgit debt and equity for the Group.
CEO and Executive Director Hassan Basma said “The ability of Bumi Armada to attract talent from established, strong and growing multinational companies in the oil and gas industry for a key position is testimony to Bumi Armada’s competitiveness on the global stage. Kenneth is expected to bring to bear his experience to play a key role in the Group’s global expansion and in engagement with the global market. Rezza’s assumption of the position of Head of OSV from a Finance function demonstrates that the Group provides opportunities for home grown talents to advance their career by broadening and diversifying their exposure in the business. This will also enable the Group to build a pool of talent for future succession to key positions.”

Chairman, Tunku Ali Redhauddin ibni Tuanku Muhriz, in welcoming the Management changes said, “Both Rezza and Kenneth are expected to harness their respective knowledge, strengths and competencies in operations and finance to provide strong support to CEO Mr Hassan Basma in the thrust towards future international growth and global expansion of the Bumi Armada business. We welcome Kenneth and wish to thank
Rezza for his services as CFO and in playing an instrumental role in the Group’s global expansion, particularly in the fund raising activities of the Group. We wish them both well in their new roles.”

November 18, 2013

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