Norway: Spectrum Appoints Rune Eng as new President and CEO

The board of directors of Spectrum ASA has appointed Rune Eng as new President & CEO for Spectrum ASA. Rune Eng will take over the CEO position in the course of the 4th quarter of 2010.

Mr. Eng has broad experience in the seismic industry and has served in different executive positions with Petroleum Geo Service (PGS) for the last 6 years.

Mr. David Rowlands will continue to be CEO for Spectrum until Rune Eng replaces him in late 2010. Mr. Rowlands will then continue in another leading management position in the group.

“The board of directors is very pleased to have reached an agreement with Mr. Rune Eng. Eng has been instrumental in building the Multi Client (MC) library and the MC organization, both in Fugro and in PGS. Spectrum ASA has a strong team within its Multi Client and Data Processing division, but the employment of Rune Eng as CEO is expected to be a “catalyst” for developing the commercial culture and increasing the growth rate for Spectrum”, says Glen Rødland, the Chairman of Spectrum. “Further, the strengthening of the team in Spectrum has been a joint effort between the board and the current management and we are very pleased that Mr. David Rowlands will continue to be a part of the Management team in Spectrum” the Chairman continues. “We add to Spectrums competence without loosing any expertise”.

“Spectrum has a highly competent global organization with years of experience in the seismic industry and offices on all continents. There is a significant potential to develop Spectrum in to a major seismic player with the emphasis on the multi client business model. I look forward to the challenge to grow the company and to work with the Spectrum” says Rune Eng in his comment.

[mappress]

Source: Spectrum, November 3, 2010: