Subsea energy equipment and services specialist Koil Energy Solutions Inc. has made a change at the helm as its CEO and CFO Charles Njuguna handed in his resignation. The company said in a media release that Njuguna is retiring due to a family health matter.
In addition to resigning from his CEO and CFO positions, Njuguna has also resigned from the company’s board of directors. His last assignment for Koil will be to oversee the 2023 fiscal yearend audit and financial reporting, meaning he will stay onboard through March 31.
Koil’s board of directors named Erik Wiik as a new member effective March 8. Wiik will also assume the position of chief executive effective April 1. Wiik has been connected to Koil as a consultant since September 2023.
"Serving as CEO of Koil Energy has been the highlight of my professional career. As I look back on the Company's transformation over the past four and a half years, I could not be prouder of what the team has accomplished", said Njuguna. "Despite the challenges we have encountered, the Company's foundation has never been stronger. Having crafted a new growth strategy with Erik and the team, I am delighted he has committed to executing this strategy as the new CEO".
Wiik has more than three decades of experience in the energy industry, including in subsea technology through a 24-year tenure with Aker Solutions, the company said.
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