28 June 2013

Statement of the Supervisory Board of Stork B.V.

The Supervisory Board has the intention to appoint Mr. Arnold Steenbakker as the new CEO effective 1st July 2013, subject to the advice of the Central Works Council. At the same time, Doug Meikle and David Workman will resign as CEO and COO of the Company. As a result the new Board of Management will exist of two people, Mr. Arnold Steenbakker and Mr. Pim Oomens respectively as CEO and CFO.

Mr. Steenbakker (1957) has developed extensive international experience in the Oil & Gas Industry during his 22 years with Fluor Corporation in several senior management positions and international assignments. During his last three years at Fluor he was responsible for growing its operations and maintenance business worldwide. Thereafter he joined Fugro (2005), where he was COO of two of its divisions before taking the position of Chairman of the Board of Management through to November 2012.

His experience gives Mr. Steenbakker deep knowledge of our industry, hands on project management experience, a clear understanding of the requirements of our customers, combined with a long term strategic view of the development potential of Stork. Mr. Steenbakker is therefore ideally placed, alongside Mr. Oomens and the rest of the senior management of Stork to drive the Company forward, grow our business internationally, whilst maintaining a strong and profitable position in Europe.

We would like to thank Mr. Meikle for his efforts from 2009 till now for the work he has done in consolidating the Company’s operations and implementing the one Stork concept, with a clear focus on becoming a global supplier of maintenance and integrity services to the Oil & Gas and Process Industry. Its professionalism, international presence, customer focus and safety record grew under his leadership.

Mr. Workman, previously the CEO of RBG, has also been integral in this effort and in ensuring the smooth integration of RBG into Stork post its acquisition in May 2011. This significantly grew the Company’s international operations. We thank him for this contribution.

Mr. Henk Rottinghuis states: "Stork has built a strong market position, which our Shareholder would like see expand. This new Board of Management will be able to further work on our international footprint. Our Continental European turnover is  45% of our total revenue now and will further decrease due to a fast revenue growth outside of Europe".

We wish Mr. Steenbakker, Mr. Oomens, the management and employees of Stork success in their efforts to continue to position Stork as the industry’s global leader in  providing  knowledge based asset integrity services.
We are convinced we can offer our customers a partnership based on our quality and safety programs, building long term relationships profitable to both. Their trust is our obligation.