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AusGroup's COO of marine unit, CEO of engineering arm to leave company

TWO executives are leaving oilfield service provider AusGroup, the company announced on Thursday.

James Stokes, the chief operating officer of AusGroup's AGC and NT Port and Marine units, is "resigning to pursue other opportunities", while Simon High, chief executive of engineering services, is retiring.

Their departures are effective Thursday.

Mr Stokes, 45, had been appointed to his current position on Feb 16, 2016. Among other things, he was responsible for the "management of the business operational activities including projects, maintenance services, port and marine services, fabrication and manufacturing", the company said.

Mr High, 64, was appointed to his current designation on Jan 20, 2016, and was responsible for the general management of AusGroup's engineering services business unit.

Neither Mr Stokes nor Mr High have any shareholding interests in the company and its subsidiaries.

AusGroup added that there are no unresolved differences in opinion on material matters between the parties and the board of directors, including matters which would have a material impact on the group or its financial reporting.

The counter last traded at S$0.036 a share on Wednesday, unchanged from the previous day close. There were no trades as at 9.48am on Thursday.