Ashtead Technology appoints experienced CFO and expands management team

5 January 2021

Ashtead Technology has appointed a chief financial officer (CFO) and five managers for newly created roles across its international team.

The appointments underline the integrated subsea technology and services company’s strategic growth plans to cement its leading position in the global offshore energy market and build on its recent success in new and emerging markets, including in offshore wind and decommissioning.

Ingrid Stewart assumed the new CFO position this week, bringing 23 years of corporate finance experience to the Aberdeenshire-headquartered business which employs 170 people around the world.

Ms Stewart spent eight years with EnerMech Group as corporate development director where she managed the completion and integration of multiple acquisitions for the firm, as well as developing and executing long-term strategies. Prior to this, she was a member of the senior UK management team at Simmons & Company International, becoming the investment bank’s first ever female corporate finance director in 2009.

A specialist in subsea construction, IMR and decommissioning services, Ashtead Technology has acquired five businesses since 2017 and, as a result, boasts one of the largest equipment fleets in the industry and a depth of associated services capability.

In her new role, Ms Stewart will work with the senior team to position the company for further growth and further leverage existing capability. She said:

Ingrid Stewart, Ashtead Technology’s Chief Financial Officer, said: “After watching the business successfully grow through acquisition over the past few years and increase its foothold in the offshore renewables and decommissioning sectors, I am thrilled to be joining the talented team at Ashtead Technology.

“The company has significant growth potential and I’m looking forward to supporting its future aspirations.”

The new Aberdeenshire-based managerial hires across Ashtead Technology include Lili Hughes as group QHSE manager, Stephen Booth as decommissioning business development manager and asset integrity project manager Michael Gibson. In addition, Mark Vela has joined as US operations manager in Houston, and Dan Davies has taken up his new role as NDT market manager within the company’s inspection solutions team in Bedfordshire, England.

Allan Pirie, Ashtead Technology’s Chief Executive Officer, said: “Ingrid’s substantial corporate finance and energy industry experience will make a significant contribution to our growth ambition as we further integrate and invest in our global operations to support the increase in business in offshore wind, decommissioning, and oil and gas.

“Bolstering our management team in the UK and the US will ensure we are well-equipped to support our clients as we navigate the current challenges and capitalise on the opportunities presented by the energy transition and the blue economy.”

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