June 6, 2017 / 6:28 AM / a month ago

Aggreko finance chief resigns; to leave within a year

2 Min Read

June 6 (Reuters) - Aggreko Plc, the world's largest temporary power provider, said Chief Financial Officer Carole Cran had tendered her resignation after 13 years in the role to become the finance head of Forth Ports Ltd, a Scottish infrastructure funds-owned company.

The company, whose kits power major events and cover electricity shortfalls, said on Tuesday it would initiate a process to identify her successor and Cran would leave within the next 12 months following an orderly handover.

Cran's departure comes less than a month after Aggreko announced the immediate departure of Nicolas Fournier, its managing director of power solutions since November 2015.

The company has been hit by lower demand for its generators from North American oil and gas customers, who cut spending after commodity prices slumped.

It has also had to price in a "significant" discount to secure a 200 megawatt contract in Argentina -- its single largest market. This move lead Aggreko to issue a profit warning in March. (Reporting by Esha Vaish in Bengaluru; Editing by Sunil Nair)

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