Subsea7 announced that Chief Executive John Evans will retire from his role on 30 June. He will be succeeded by Stuart Fitzgerald, the current Chief Executive of Subsea7's offshore wind subsidiary, Seaway7.

Leadership Transition and Backgrounds

John Evans, after a 40-year career with Subsea7 and its predecessor companies, will remain with the company as a board director. He served as Chief Operating Officer for 14 years before becoming CEO in 2020. Stuart Fitzgerald has been with the Subsea7 group since 1998 and has led Seaway7 since 2022.

Context of the Pending Merger with Saipem

Fitzgerald will assume the CEO role as Subsea7 progresses with its proposed merger with Saipem, expected to close in the second half of 2026. The combined entity will be named Saipem7.

Future Leadership Structure for Saipem7

Upon completion of the merger, the announced leadership plan is as follows:

• Subsea7 Chair Kristian Siem will become Board Chair of Saipem7.
• Saipem CEO Alessandro Puliti will be appointed CEO of Saipem7.
• Alessandro Puliti and John Evans are designated to become Chairman and CEO, respectively, of "Subsea7, a Saipem7 company," which will manage the combined group's offshore engineering and construction business.
• Stuart Fitzgerald is proposed to become the CEO of Subsea7 within the future Saipem7 structure.

Board Support and Confidence

In a statement, Kristian Siem praised John Evans for his "true commitment and passion" over four decades. Regarding Stuart Fitzgerald, Siem highlighted his significant contributions in operational and strategic roles and his leadership in turning around the Seaway7 business. The Board expressed full confidence that Fitzgerald will successfully lead Subsea7 in the near term and through the merger process.