Tekmar Group, a provider of technology and services to the global offshore energy market, has unveiled a new CEO.
The AIM-listed firm, headquartered in Darlington, said Richard Turner will join at the start of September 2024 from Geoquip Marine.
Geoquip Marine specialises in global offshore geotechnical site investigation and data acquisition in the offshore energy and renewables markets.
Prior to Geoquip, Turner was CEO of BEL Valves and president and CEO of JDR Cable Systems.
He is also a Commissioner of the Port of Blyth.
Alasdair MacDonald (pictured), current CEO of Tekmar Group, will transition to a role as executive director where he will look at opportunities for growth through mergers and acquisitions. After six months he will then move to become a non-executive director.
Steve Lockard, currently a NED and an operating partner of SCF Partners, assumes the role of chair with immediate effect, with Julian Brown returning to his previous role as independent NED.
“Tekmar has made significant progress in recent years and is well positioned for the future as a stronger, more commercially robust and balanced business with a platform for sustained growth,” said MacDonald.
“I am confident that Tekmar will continue to go from strength to strength and look forward to supporting Richard and the board to deliver for shareholders on the very significant opportunities ahead.”
David Wilkinson, senior independent director, added: “The changes announced today give investors clarity on the leadership team that will drive the next stage of growth for Tekmar and represents the successful conclusion of a multi-year strategy by the board to stabilise Tekmar and position the group for sustained success.
“We have a clear ambition to build a leading offshore wind services platform company and as a board, we remain resolutely focused on delivering on our value creation strategy for the benefit of all shareholders.”
Turner said: “I am delighted to be joining Tekmar at this pivotal period in its journey. The scale of the opportunity we have ahead in offshore energy markets and the ambition of the board to deliver on this makes this a highly compelling leadership role.
“Alisdair passes on the CEO baton with the business in good shape, having guided Tekmar through significant change, earning him the respect of our colleagues, shareholders and broader stakeholders.”