NEO Energy reshapes executive structure, appoints new leadership

Aberdeen-based New European Offshore (NEO Energy) has reshuffled its leadership team, appointing a new Chief Executive Officer (CEO) and Chief Operating Officer (COO) while restructuring its Board. 

The company named Andy McIntosh as the new CEO and Craig McKenzie as COO, both internal promotions. 

These changes follow as Paul Harris (CEO) and Martin Rowe (CTO) step down from their executive roles, though they will remain with the company until the year’s end to ensure a smooth transition. According to NEO Energy, Harris will retire, and Rowe will depart the business.

Alongside the executive changes, the company’s Board underwent a shift with the departure of Chairman Martin Bachmann, and non-executive Directors David Gair and Fiona Hill. John Knight has taken over as Executive Chair, joining non-executive Directors Einar Gjelsvik, Tim Dodson, and Grethe Moen. Kristin Gjertsen also became a non-executive Director on the Board.

The company’s Board and major shareholder HitecVision acknowledged the contributions of the departing team members for their role in NEO Energy’s growth, the firm stated.

The Aberdeen-based company announced the slowdown of its investment plans across its portfolio in early September, amid fiscal and regulatory uncertainty in the UK. This decision came after the UK government unveiled plans to consult on environmental guidance for oil and gas projects. As a result, the timeline for NEO Energy’s oil redevelopment project in the North Sea was expected to be postponed.

In July, a 2017-built floating, production, storage, and offloading (FPSO) vessel, destined for a redevelopment project operated by NEO Energy, was set to spend up to a year in Scapa Flow. The FPSO, Western Isles, operated by Dana Petroleum, ceased production earlier in the year.