This is in relation to a possible offer
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Pictured: Christian Brown
Christian Brown is to take over from Hugh O’Donnell as chief executive of Kentz Corporation, the holding company of Kentz engineering and construction group, from 1 February.
O’Donnell, who has been chief executive since 2000, is to continue to provide exclusive advisory services to the group over the next three years.
The group has also appointed Rory O'Donnell, formerly group head of development, to the new role of group officer strategy and M&A, responsible for all strategic development including strategy and acquisitions.
Tan Sri Razali, chairman of Kentz, said Hugh O’Donnell had provided “visionary leadership which, combined with his experience and wisdom, has delivered the scale and success the company enjoys today”.
Brown has over 20 years' experience in the LNG, oil and gas, refining, and petrochemicals industries. He joined Kentz in August 2011 as group chief operating officer with responsibility for Kentz's global operations and functional services. He had a 17-year career with KBR working across the Americas, Europe, Africa and the Middle East before joining Foster Wheeler in 2009 where he was latterly managing director of global sales and marketing.
The company also announced a pre-close trading update ahead of its results for the year ended 31 December 2011, due to be published on 26 March 2012. It said revenues and profits for the full year 2011 marginally ahead of consensus expectations.
The company said it had a record backlog of US$2.40bn at the end of December 2011, up 50pc from December 2010, underpinned by further new awards and natural growth on existing contracts. That backlog included 60pc of reimbursable service contracts with significant opportunity for continued natural growth during 2012. And it said its pipeline of prospects sits at just over US$10bn.
"2011 was another strong year for Kentz with growth in revenue, profit and backlog,” said Hugh O’Donnell. “We anticipate continued development in both our core and emerging markets such as Russia, Australia and Canada. Overall, the outlook is very positive, underpinned by the solid project pipeline of our core clients, which gives us confidence for 2012 and beyond."