Crantz steps down as Argeo’s CEO, interim appointed

Norwegian subsea services provider Argeo has appointed an interim chief executive officer (CEO) as the current CEO Trond F. Crantz has stepped down from the role.

Argeo’s Board of Directors yesterday, April 3, appointed Jan P. Grimnes to serve as interim CEO of the company following the decision that present CEO Trond F. Crantz will step down as CEO immediately in order to dedicate his time and focus differently.

“The board thanks Mr. Crantz for all his dedication and hard work throughout his period as CEO, during which Mr. Crantz and the management team has diligently built and successfully steered the Company from an entrepreneurial growth venture into the global and most reputable subsea service provider it currently is, and the board looks forward to cooperating with Mr. Crantz in this new phase,” Argeo said.

Argeo will initiate a structured process to identify the next permanent CEO.

“Argeo’s standing as a professional and reputable provider of specialized subsea services, delivering fast and flexible full-lifecycle services to industry-leading clients with a truly global presence, is in no small part thanks to Mr. Crantz’s good efforts, but as Argeo is now entering a new strategical phase of operations, further expanding within both the asset and service sphere, Argeo is equally in need of new competencies and resources to expertly navigate the Company through new waters,” said Jan P. Grimnes, Chairman of the Board.

Argeo a couple of days ago signed new contracts for its two vessels to be deployed offshore South America and Africa on oil & gas projects.

The contracts will see Argeo Searcher perform autonomous underwater vehicle (AUV) survey work in South America and Argeo Venture AUV survey work in Africa.