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Enteq Technologies PLC on Friday said Amir Absoud will become head of finance, replacing Mark Ritchie, the outgoing chief financial officer. The Ascot, England-based energy services technology and equipment supplier said Absoud will start his new role, on a contractual agreement, beginning Friday. Ritchie, who is leaving after less than a year on the board, will remain with the company until the end of May as a director, and thereafter as an employee until late June to assist with the handover. His successor is a chartered accountant with previous experience in senior roles working for oilfield and energy services companies, such as Weatherford International PLC, in the UK and internationally. Absoud is also the founder and director of oil and gas accountancy firm Upstreamly Ltd, which will begin advising Enteq. Chief Executive Officer Andrew Law commented: ‘[Absoud’s] experience in energy services and growing businesses is directly relevant to Enteq’s needs and coupled with his entrepreneurial skill set, I believe he will deliver a positive impact to Enteq. The additional support of Upstreamly will provide a high quality, scalable and cost-effective solution to our financial services function.’ Following his appointment, Absoud will be an adviser and observer to the board. Enteq shares were down 13% to 7.80 pence each in London on Friday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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