Subsea 7 board shift for US work

Subsea-701 July 2014, News Wires – Subsea 7 is revamping its board of directors as the subsea contractor seeks to conform with requirements for operation of its vessels in US waters.

The UK-based player is required to reduce the number of US nationals on its board from three to one as foreign companies working off the US cannot be controlled by a majority of US citizens.

As a result, US citizens Robert Long and Allen Stevens have agreed to resign as directors with immediate effect, while retaining committee positions at the company.



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