LONDON (dpa-AFX) - Petrofac Ltd. (POFCF.PK, POFCY.PK, PFC.L) announced a Committee of the Board has been established to be solely responsible for the company's engagement with the SFO and to oversee the company's response to their investigation. The Committee comprises the Chairman, Independent Non-executive Directors and CFO. The Committee has decided to engage a senior external specialist to oversee the company's management of and response to the investigation.
The Board of Petrofac has suspended Marwan Chedid as Group Chief Operating Officer until further notice. He has resigned from the Board. Ayman Asfari will continue in his role as Chief Executive Officer. The company said Ayman Asfari will not be involved in any matters connected to the SFO investigation.
On 12 May 2017 the SFO confirmed that it is investigating the activities of Petrofac, its subsidiaries, and their officers, employees and agents. The investigation is related to the SFO's ongoing investigation into the activities of Unaoil.
Copyright RTT News/dpa-AFX