UK marine services group James Fisher and Sons has a new chief financial officer ready to join the company.
The London-listed product tanker owner said Karen Hayzen-Smith has agreed to replace Duncan Kennedy, who said in July he would resign within 12 months.
The new recruit will join no later than 1 December.
Kennedy will step down when Hayzen-Smith finalises a start date, but will remain with the company for a short period to ensure a smooth and effective transition of responsibilities, James Fisher said.
Hayzen-Smith is currently director of group finance at chemicals and sustainable technology group Johnson Matthey, a post held since January 2020 , and before that was interim chief financial officer between November 2020 and April 2021.
Her previous roles have included finance director for the aviation sector at Babcock and a variety of senior finance roles at Vodafone, Hanson and Amec Foster Wheeler.
She began her career at Arthur Andersen.
James Fisher chief executive Jean Vernet said: “She comes with a wealth of experience in the energy and defence sectors and a strong track record across all aspects of finance leadership. This, combined with an expertise at driving successful turnarounds, brings considerable strength to our executive team as we execute our ‘focus, simplify, deliver’ strategy.”
Hayzen-Smith added: “I am delighted to be joining James Fisher at such a pivotal point in its transformation journey and I look forward to working with Jean and the team to progress the company’s strategic and value creation agenda and build upon achievements to date.”
Kennedy said: “I have enjoyed my time as CFO of James Fisher and am proud of the progress we have made in simplifying the business and reducing its debt.”
Tankers trading well
In a July trading update, the company said it has had an encouraging start to the year through the second quarter.
Group revenue from continuing operations in the period is expected to be £250m ($319m), up 16% from 2022.
Underlying operating profit from continuing operations is forecast to show modest growth compared to the same period in 2022.
The Tankships division has maintained its good performance, with high tanker utilisation and solid day rates for spot charters, the company said.
Subsidiary Fendercare’s ship-to-ship transfer business has stabilised at levels in line with the second half of 2022.
