Oil and gas services firm appoints Derek as CEO

New CEO of ASCO, Derek Smith.
New CEO of ASCO, Derek Smith.

The ASCO Group has announced the appointment of Derek Smith, Group chief operating officer, to the position of Group chief executive officer.

Mr Smith replaces Billy Allan, who has become the Group’s executive chairman.

Mr Smith joined ASCO in 2007 and has been the COO for the past 12 months. Prior to that, he was the chief executive of ASCO’s Europe, Middle East and North Africa region.

“Derek has many years of experience with ASCO and has played a fundamental role in the recent growth of its business worldwide, including the acquisition of five new businesses,” said Mr Allan.

“He is very well placed to steer the next chapter of ASCO’s growth and I look forward to supporting him in this role as executive chairman.”

Mr Smith added: “I am looking forward to the challenge of leading the ASCO Group at such an exciting period in the company’s development.

“We have a great company with great people, and with the support of our shareholders we can continue to grow and develop our service range to support our customers both in our core markets and across the globe.”

Mr Allan joined ASCO in 2006 as the Group’s chief executive officer.

His new role of executive chairman will see him work more closely with ASCO’s investment community whilst continuing to provide strategic support to the executive leadership team.

Mr Smith heads an executive leadership team includingMark Walker, chief financial officer; Andrew Macdonald and ASCO Europe CEO.