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Published by Global Banking & Finance Review®
Posted on March 3, 2026
1 min read
Last updated: March 3, 2026
The featured image illustrates the financial landscape as activist investor 7Square pressures Nuernberger to evaluate rival takeover offers, emphasizing the ongoing competition in the insurance sector.
Leadership Transition at Subsea7
Retirement of John Evans
March 3 (Reuters) – Norwegian energy contractor Subsea7 said on Tuesday that CEO John Evans will retire later this year and will be succeeded by Stuart Fitzgerald.
Evans, a company veteran, will retire on June 30 and Fitzgerald will take over starting July, the company said in a statement.
Stuart Fitzgerald’s Appointment
Current Role and Future Plans
Fitzgerald is currently CEO of Seaway7, part of the Subsea7 Group. He has also been proposed as CEO of the combined entity after the completion of a planned merger of Subsea7 with Italian oil services firm Saipem, the company said.
Merger with Saipem
Details of the Merger
In 2025, Saipem agreed to merge with rival Subsea7 in a deal valued at about $4.63 billion to create a global player — to be renamed Saipem7 — in offshore energy services.
Reporting and Editing
(Reporting by Bipasha Dey in Bengaluru; Editing by Sahal Muhammed)