#Paratus Energy #Robert Jensen #Baton Haxhimehmedi

Paratus Energy Services Announces Leadership Change

Paratus Energy Services Ltd., a key player in the energy services sector, has made a significant management change as it navigates through a crucial phase of corporate restructuring. The company's Board of Directors has accepted the resignation of Robert Jensen, who has been serving as the Chief Executive Officer (CEO) since 2022. Jensen, who also resigns from the Board, will remain available in an advisory capacity to ensure a smooth transition.

In his place, Baton Haxhimehmedi has been appointed as the Interim CEO. Haxhimehmedi, who previously held the position of Chief Financial Officer (CFO) since June 2024, is well-equipped for this role, bringing over 15 years of experience in the upstream oil and gas sector. His career includes noteworthy positions at DNO ASA as well as extensive experience with major auditing firms like Ernst & Young and KPMG, where he worked primarily with international oil and gas clients.

Strategic Changes Ahead

The leadership change arrives at a pivotal moment, as Paratus has recently announced the sale of Fontis's drilling operations and jack-up fleet. The Board is currently reviewing the organizational and corporate structures to align with the new business strategy. Once completed, Paratus will position itself as the only company globally focused on pipelay support vessels (PLSV), promising enhanced earnings visibility due to a fully contracted fleet in a robust infrastructure-supported segment.

The PLSV activities continue to be managed by a strong operational team led by CEO Rogerio Salbego at Seagems, a subsidiary of Paratus. This focus on specialized services signals a strategic pivot that aims to reinforce the company’s competitive edge in the market.

Acknowledging Leadership Contributions

Mei Mei Chow, Chairperson of Paratus, expressed gratitude toward Robert Jensen for his leadership and contributions during his tenure. Under Jensen’s guidance, the company successfully transitioned from its former parent company, Seadrill, to a more focused energy services enterprise, a process marked by key developments such as its refinancing in 2024 and the establishment of a shareholder distribution model featuring quarterly dividends.

Jensen himself remarked on the positive transformation within Paratus, emphasizing the solid foundation established for future growth. He highlighted the dedication of his colleagues and asserted that this was the right time for him to step down to explore new opportunities, stating,