Bumi Armada appoints new chief financial officer

KUCHING: Malaysia- based international offshore energy facilities and services provider Bumi Armada Berhad ( Bumi Armada) yesterday announced the appointment of Luke C. Targett as the chief financial officer effective October 29, 2018.

He has more than 30 years’ experience in financial advisory roles which include restructuring, merger and acquisition, pre-lending reviews, transaction advisory, independent business reviews and non-performing loan management in numerous jurisdictions including London, Singapore, Indonesia, Myanmar and Thailand.

Targett started his career with Coopers and Lybrand, Melbourne in 1988 and subsequently spent more than 12 years at Ernst and Young. In 2005, he joined Interra Resources Ltd, a dual SGX and ASX listed oil and gas producer and explorer as chief executive officer in Singapore for four years.

Prior to joining Bumi Armada, he was a Partner in Melbourne at Cor Cordis, an Australian national business advisory firm.

Targett will be responsible with leading Bumi Armada’s current operations and growth trajectory through Financial Management and Reporting, Corporate Strategy, Budget, Treasury and Capital Management, Financial Risk Management, Investors Relations, Communication and Sustainability.

He has a Bachelor of Commerce Degree from Melbourne University. He is a member of the Institute of Chartered Accountants Australia and New Zealand and subsequently attained a Graduate Diploma in Applied Finance.

Targett will take over the CFO role from Pierre G Savy who has been the Acting CFO over the last two years. Pierre will remain with the Group, taking on a new role that continues to utilise his 30plus years of experience in the oil and gas industry.