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Subsea 7 has appointed Stuart Fitzgerald as its new Chief Executive Officer, succeeding John Evans who will retire on 30 June 2026. The leadership transition places the current head of the group’s renewables unit at the helm of the offshore energy major just as it navigates a proposed merger with Saipem to form Saipem 7.
The announcement confirms a strategic succession plan designed to bridge the company’s established oil and gas operations with its expanding focus on offshore wind. Fitzgerald will take over the top role on 1 July 2026, following the retirement of Evans after a four decade career. The board has also nominated Evans for election as a Director at the Annual General Meeting on 12 May 2026.
Operational and strategic impact
Fitzgerald brings specific expertise in the renewable energy sector, having served as CEO of Seaway 7 since 2022. His background is expected to prove critical as the broader energy industry shifts toward sustainable offshore solutions. Before leading the renewables unit, he held senior roles including Executive Vice President for Commercial and Strategy, giving him oversight of group direction and alliances.
Kristian Siem, the Chairman of Subsea 7, highlighted the operational turnaround of the Seaway 7 business under Fitzgerald’s leadership. This experience in managing complex offshore wind projects positions the incoming CEO to lead the combined entity expected to emerge from the Saipem merger. The proposed combination aims to create a global leader in offshore engineering and construction, a sector currently grappling with high demand for energy transition infrastructure.
The change in command occurs at a pivotal time for the Luxembourg listed group. The company faces the dual challenge of maintaining profitability in traditional subsea construction while scaling up capacity for fixed and floating wind installations. Industry analysts view the appointment as a signal that the merged entity will prioritize the integration of conventional oil and gas services with the growth potential of the offshore wind market.
Leadership transition details
John Evans leaves a significant legacy after 40 years with the company and its predecessors. He served as Chief Operating Officer for 14 years and has held the CEO position since 2020. His tenure was marked by a focus on operational discipline and the navigation of volatile energy markets.
In a statement, Siem credited Evans with showing true commitment and passion for the business. The decision to retain Evans as a director suggests an intention to preserve institutional knowledge during the merger integration. This continuity could prove vital for maintaining relationships with key clients and managing the risks associated with fixed price contracts in the offshore sector.
The transition plan appears structured to minimize disruption. By announcing the move well in advance of the effective date, the board provides stakeholders with certainty regarding the leadership of the future Saipem 7. Investors and partners in the breakbulk and project cargo sectors will monitor the handover closely, as executive stability often correlates with the successful delivery of large scale offshore modules and infrastructure.
Subsea 7 remains listed on the Oslo Bors under the ticker SUBC. The company continues to advise stakeholders to review risk factors detailed in its Annual Report, particularly regarding the ability to deliver complex projects and the fluctuating capital expenditure of energy companies.
