Mermaid Maritime CEO Denis William Welch quits

Welch initiated and led moves that set the future direction of of the company.

Mermaid Maritime Public Company Limited (“Mermaid”) announced Wednesday that Mr Denis William Welch resigns as Chief Executive Officer effective 30 September to pursue another senior executive opportunity on a regional level based in Singapore.

During his tenure as CEO Mr. Welch undertook a strategic review of Mermaid’s two businesses and executed a number of significant changes. Mermaid’s subsea engineering services division, Mermaid Offshore Services Ltd. (“MOS”), has devised a turnaround plan centered around reduced operating costs, business process improvements, and the opening of a new commercial office in Singapore to be closer to international customers.

New appointments with considerable industry experience have been made to the MOS management team, and they will take leading roles in executing and delivering this future plan. Mermaid’s tender rig drilling division, Mermaid Drilling Ltd. (“MDL”), has streamlined its overall cost structure for the operations of its existing two tender rigs after the decision by Mermaid to invite Seadrill Limited (“Seadrill”) as Mermaid’s equal partner in Asia Offshore Drilling Limited (“AOD”), with Seadrill leading the operations and commercial and technical management of the AOD rigs, thus increasing AOD’s competitive advantage and marketability.

Mr. Welch also acted as interim CEO of AOD and participated in the second round of fund raising for this company. Oslo Axess-listed AOD is Mermaid's new business venture that achieved first mover advantage in the now apparent newbuild jack-up construction boom by ordering three high-specification Mod V - B Class jack-up rigs from Keppel FELS Limited in Singapore, according to a Mermaid report.

The Board of Directors of Mermaid thanks Mr. Welch for his leadership in setting the future direction of Mermaid.

Following the resignation of the CEO, both the MOS and MDL business divisions of the Company will report to the Executive Chairman.

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

30 One-Sentence Stories From People Who Have Built Better Habits

None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.

news conversion

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

SBR 4 Lorem Ipsum [8 May Top Stories]