Petrofac president and executive director steps down after 22 years

The president and executive director of FTSE 100 oilfield service company Petrofac Maroun Semaan has announced he will be retiring at the end of this year after more than 22 years with the company.

Group chief executive Ayman Asfari said much of the growth the company has experienced is “directly attributable to Maroun” and thanked him for his support over the years.

Semaan said he leaves confident in Petrofac’s future and stated his intention to remain a long-term shareholder.“I wish everyone at Petrofac every success for the future.”