SBM Offshore Announces CEO Departure, Succession

SBM Offshore CEO Bruno Chabas is stepping down after 12 years, and COO Øivind Tangen will move into the role, effective April 12.

Tangen, already a member of the management board, will also take on the role of chair of the management board, which will continue as a two-person board consisting of Tangen and CFO Douglas Wood. Chabas will act as adviser to the company to facilitate the transition during the year, SBM said.

Chabas said in a press release he was proud that SBM’s leadership team made internal succession possible and that Tangen “will successfully guide the company to achieve its ambitious energy transition targets.”

Tangen joined SBM 21 years ago and has been COO and a member of the management board since 2022. He was previously responsible for SBM’s FPSO fleet.

Roeland Baan, chair of the supervisory board, said in a press release that Chabas set out and executed a transformational vision for the company.

“Under Bruno’s leadership, the company navigated numerous challenges, and Bruno leaves the organization as a leader in the FPSO market and an established energy transition company with a clear strategy and strong financial position,” he said. “Øivind has shown strong leadership and people skills in his current and former roles. His extensive experience in all the areas of our core businesses will enable him to be an effective CEO leading SBM Offshore going forward.”