Petrofac has appointed a new Board of Directors following its acquisition by a consortium led by Mason Capital and Pearlstone, marking a new phase in the company’s strategic development, governance and long-term growth.

The newly formed Board brings together extensive expertise from the engineering, procurement and construction (EPC) sector, alongside deep experience in corporate finance, governance, investment and business transformation.

The appointments are designed to strengthen Petrofac’s governance framework and provide strategic oversight as the company works with its management team to pursue future growth opportunities.

The Board will support Chief Executive Officer Tareq Kawash and Chief Financial Officer Suresh Swaminathan in delivering the company’s strategic priorities.

It comprises Michael Martino as Chairman, alongside Non-Executive Directors Samuel Read, Cesar Canals, David Davies and Farhan Mujib.

Martino, founder and Principal of Mason Capital Management, brings nearly three decades of capital markets experience, with expertise spanning corporate restructurings, mergers and acquisitions, special situations and governance.

He currently serves as Executive Chairman of ATS Corporation and CB&I Holding, LLC, and is a board member of McDermott International.

Read, a Partner at Mason Capital Management, has significant investment experience across engineering, infrastructure and industrial sectors.

Previously with The Carlyle Group, he specialised in distressed and special situations investing, supporting companies through operational improvement and value creation initiatives.

Canals adds more than 40 years of leadership experience in global energy and engineering. Formerly Chief Executive Officer and President of CB&I, he has held senior operational roles across multiple international markets, including the United States, Saudi Arabia, South Africa and Argentina.

Davies brings extensive financial and governance expertise, having served as Deputy Chairman of the Executive Board and Chief Financial Officer of OMV AG for 14 years.

A former Non-Executive Director of Petrofac Limited, he provides continuity and institutional knowledge during the transition.

Mujib contributes more than three decades of EPC and energy sector experience, including his role as President and Representative Director of JGC Corporation, where he became the company’s first non-Japanese executive leader.

He previously held senior positions at KBR, delivering major international energy projects.

Petrofac said the strengthened Board reflects its commitment to operational excellence, sustainable growth and enhanced value creation as the company moves forward under new ownership.

Tareq Kawash, Chief Executive Officer, said: “Our new Board brings deep industry, financial and governance expertise at an important stage in Petrofac’s evolution. Together, we are focused on disciplined business development and project delivery and positioning the company for long-term success. I look forward to working closely with the Board and the management team.”

Michael Martino, Chairman, said: “Petrofac has built its reputation over decades by delivering complex projects in some of the world’s most important energy markets. As the company begins this new chapter, the Board’s priority is to provide the strong governance, stability and strategic direction needed to build on that foundation. We see significant opportunity to reinforce Petrofac’s strengths, deepen client confidence and support the business across the MENA region.” -OGN/TradeArabia News Service