Oceanteam director leaves after only two months on the board

Oceanteam, the Norwegian-Dutch offshore service provider, has informed that non-executive director Bote de Vries would be stepping down from his role.

The decision, effective July 10, came only two months after de Vries joined Oceanteam. The appointment of De Vries was approved by Oceanteam’s shareholders during an extraordinary general meeting on May 9.

He succeeded James Hill who stepped down. Hill was a director on Oceanteam’s board since 2012.

De Vries explained that his responsibilities have required and would require more time than initially expected. He also added that he would prefer his role to be an executive one rather than a non-executive since Oceanteam is still in the process of recruiting its new CFO.

Oceanteam will enter into reviewing several candidates to replace de Vries and will present a new board member candidate to its shareholders.

De Vries’ appointment was one of the conditional terms the bondholders imposed in order to come to a final deal regarding the new bond loan agreement that was approved by a majority of them at the end of April 2017.

Oceanteam’s chairman Hessel Halbesma said: “We have accepted Mr. De Vries’ considerations and his one argument to resign, being a lack of time to keep the company on track and implement our strategic roadmap.

“We really have been looking forward to work with him. However, we are confident that our bondholders will take a decision very soon about their new candidate(s) board member to represent them in Oceanteam’s board.”