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Irene Waage Basili takes the position as permanent CEO of Shearwater GeoServices

Reference is made to the stock exchange announcement on 4 November 2016, regarding Irene Waage Basili temporarily leaving GC Rieber Shipping ASA in anticipation of a permanent CEO of Shearwater GeoServices.

The board of Shearwater GeoServices, which is jointly owned by GC Rieber Shipping and Rasmussengruppen, has offered Irene Waage Basili to take on the position as CEO of Shearwater on permanent basis. Irene Waage Basili has accepted the offer and will thus resign the position as CEO of GC Rieber Shipping on 1 April 2017.

"The Board of GC Rieber Shipping would like to thank Irene Waage Basili for solid contributions during her six years at the helm of GC Rieber Shipping. We wish her good luck with new responsibilities and we are very pleased that she will continue to work in Shearwater and thus will still be in close contact with GC Rieber Shipping" says Paul Christian Rieber, Chairman of GC Rieber Shipping.

The Board of GC Rieber Shipping will initiate a thorough and broad process to recruit a new permanent CEO. Meanwhile, Einar Ytredal will continue to serve the role as acting CEO while Øystein Kvåle will remain acting CFO.