Ex-Qatari Investors Group CFO joins GMS

Gulf Marine Services (GMS), a provider of self-propelled, self-elevating support vessels for the offshore oil, gas and renewables industries, has appointed a former Chief Financial Officer (CFO) of the Qatari Investors Group as its new CFO, since, its current CFO has decided to step down from the role.

GMS announced the appointment of Alex Aclimandos as its new CFO with immediate effect on Monday. The appointment comes at a time when the firm is expecting and pursuing further growth and financial success.

Mansour Al Alami, GMS Executive Chairman, commented: “I would like to welcome Alex to GMS. He brings with him a wealth of relevant experience and joins us at an exciting time as we continue with the company’s development.”

According to the company, Aclimandos brings with him a wealth of progressive international financial management experience gained over 27 years with first-tier companies Proctor & Gamble, ABB and Alvarez and Marsal. Prior to joining GMS, Aclimandos was the CFO at Qatari Investors Group.

The firm confirmed that Andy Robertson, who has most recently served as the CFO, would remain available to assist with an orderly handover of his duties and responsibilities. Afterwards, Robertson will leave GMS after almost 14 years of service with the company.

“I also wish to thank Andy for his extensive contribution to GMS over the years, having served as CFO through the update to the company’s banking arrangements and its equity raise last year. We wish him well for the future,” added Al Alami.

GMS previously reported that it was seeking further growth and expressed expectations of higher rates and improved fleet utilisation. These hopes were supported by several contracts, which GMS inked in the past few months. This provider of self-propelled, self-elevating support vessels won in October 2021 a new contract and an extension for one of its large-size class vessels and for one of its mid-size class vessels.

In November 2021, the company secured two contract extensions with increased day rates for its small-size class and mid-size class vessels, while in December 2021, GMS landed two new contracts for two of its large-size class vessels