New Directors at Derrick OffshoreNews // January 18, 2002
Under the new agreement Harvey has been appointed managing director, having previously been commercial director, and Coates moves into the role of sales and marketing director. Jointly, they will control the majority of the company's shares with the balance being set aside for existing and future employees by way of an employee share scheme.
Michael Derrick, who has been involved in specialist offshore and cable shipbroking activities since 1974, announced the handover and his forthcoming retirement at the company's 25th anniversary celebrations at the end of November and thanked Derrick Offshore clients for all their support.
In his address he told 140 guests that he has accepted the role of chairman and non-executive director and a trustee of the employee share scheme. With effect from 01 January 2002, day to day management of the business passed to Sean Harvey and Ian Coates who have a combined 35 years experience working alongside Michael Derrick.
On the company's future Sean Harvey stated: "We have a very experienced team who are looking forward to the challenges ahead. The specialist marine market within which we operate is a dynamic and exciting sector of the shipping industry and currently hassignificant potential. We are delighted that Michael Derrick has agreed to stay on as our chairman and we are confident that we can build on the firm foundations he has created for us".
Ian Coates added: "Our success has been borne out of our specialist knowledge of the industry and the unique relationship we enjoy with our clients. The new management intend to maintain the Derrick Offshore ethos and to continue to furnish its clients with the highest quality and professional service.
Derrick Offshore Limited was formed in 1976 and is now the world's leading independent international broker specialising in the offshore energy and subsea cable industries. The company initiates projects and joint ventures and negotiates charter, sale, purchase, and newbuilding and conversion contracts for marine equipment related to the exploration and production of hydrocarbons offshore and the installation and maintenance of submarine cables world-wide.
Each of the brokers within the company has responsibility for a particular specialist sector, consequently each individual has developed a reputation for being a leading independent expert in their respective areas. The company's directors all have a seafaring background and their practical knowledge, together with extensive commercial experience, provides a unique service to the marine industry.