Cape – new appointment is well received
Cape’s announcement of the appointment of Joe Oatley as Chief Executive Officer went down well with the market. On a dreadful day for oil services Cape bucked the trend with the shares up 3%
Mr. Oatley comes with a great CV having previously been CEO of AIM quoted Hamworthy plc which was acquired by Wartsila in Jan 2012 and was also involved in oil and gas markets.
Given the operational difficulties experienced at Cape an outside appointment is just what the doctor ordered!