Energy logistics giant Asco has announced chief executive Peter France is to step down later this year.
He will be replaced in the role by Mike Pettigrew, who is currently managing director in the UK for Aberdeen-based Asco.
The handover is due to take place in October.
Mr France, 55, is understood to be moving to a new role at another company. He has led Asco since October 2018. Before that he was CEO at manufacturing firm Rotork.
It has been an honour to lead Asco during the past five years.”
Peter France, Asco.
In a statement released by Asco, Mr France said: “When I joined Asco, the focus was on transformative and sustainable growth, whilst delivering safety and service excellence in its operations.
“During that time, the business has strengthened partnerships with operators, developers and ports across the world, grown its materials and logistics management systems and used its existing capabilities to support supply chain optimisation in the renewables sector.
“It has been an honour to lead Asco during the past five years. I am grateful to all of my colleagues who have worked tirelessly through challenging times such as the pandemic to deliver positive growth.”
Outgoing CEO says Asco has ‘bright future’
He added: “With Mike at the helm, supported by the board and our colleagues across the world, Asco has a very bright future.”
Mr Pettigrew joined Asco in March 2022 as general manager for the group’s AFM (Asco Freight Management) and Seletar businesses. He was appointed UK managing director last November.
With career experience across the energy, marine, industrial power and shipbuilding sectors, he spent 13 years with Babcock International before joining Asco and was also a non-executive director of trade body Decom North Sea.
Mr Pettigrew said: “I look forward to working with Peter over the next couple of months to ensure a smooth transition, before taking up the role of CEO. This is an exciting period for Asco as we continue to build our portfolio of services amid the energy transition. Working closely with the board of directors, I aim to deliver our strategy and further strengthen our leading position in the sector.”
Asco chairman Bob Keiller said: “We are excited to see Mike take on the role of CEO.
“We are confident he will continue to grow the business, spearheading our commitment to helping clients and partners tackle climate change and accelerate the energy transition, while delivering our own target to become a net-zero greenhouse gas emissions business before 2040.”
Thanking the outgoing for his efforts, Mr Keiller said: “During Peter’s tenure, Asco has made significant progress through the development of new service lines and its establishment in new geographies.”
Asco employs about 1,500 people in operations spanning more than 60 locations around the world. The firm is owned by a consortium of investors, trading as Zander Topco. Its last published accounts show turnover for the 2021 calendar year came in at £419 million, up £72m, or nearly 21%, from about £347m in the previous 12 months.