BOURBON (EPA:GBB) Corporate Governance changes at BOURBON

Transparency directive : regulatory news

06/01/2011 17:45

Paris, January 6, 2011

                    Corporate Governance changes at BOURBON

    Christian Lefèvre becomes Chief Executive Officer as of January 1, 2011
       Jacques de Chateauvieux remains Chairman of the Board of Directors

On the recommendation of Jacques de Chateauvieux, the Board of Directors of
BOURBON, meeting on December 6, 2010, decided to separate the functions of
Chairman of the Board of Directors and Chief Executive Officer, with effect
from January 1, 2011.

Jacques de Chateauvieux, previously Chairman & Chief Executive Officer of
BOURBON, will continue to chair the Board of Directors.

Christian Lefèvre, previously Executive Vice-President and Chief Operating
Officer, has been appointed Chief Executive Officer of BOURBON, with
responsibility commencing January 1st.
Gaël Bodenes, previously Executive Vice President - Offshore Division -
Business Management, has been appointed Executive Vice-President and Chief
Operating Officer.

The Executive Committee is now composed as follows:
Christian Lefèvre, Chief Executive Officer
Gaël Bodenes, Executive Vice-President and Chief Operating Officer
Laurent Renard, Executive Vice President and Chief Financial Officer

Commenting on the new structure, Jacques de Chateauvieux said: "BOURBON's
strategy, totally focused on the offshore oil and gas marine services
activity, was clearly established in June 2010, and since then, asset
disposals necessary for financing the plan have been carried out. BOURBON's
Executive Committee, led by Christian Lefèvre, the newly-appointed Chief
Executive Officer, is totally dedicated to implementing the BOURBON 2015
Leadership Strategy plan."

Christian Lefèvre confirmed that "The roadmap for BOURBON 2015 is very clear,
for Managers and Teams. The due execution of the plan is dedicated to the
satisfaction of our clients, whom we will continue to serve, providing them
with the safest possible marine operations, conducted by skilled and
responsible crews, on board the most modern and high-performance vessels, with
high rates of availability."

About BOURBON
BOURBON offers a broad range of deepwater and continental offshore oil and gas
marine services. Under the new "BOURBON 2015 Leadership Strategy" plan, the
company will invest US$ 2 billion to offer its most demanding oil and gas
clients a large fleet of 600 innovative and high performance vessels. It will
guarantee the highest standard of quality service worldwide, under completely
safe conditions.
BOURBON also protects the French coastline for the French Navy.
Classified by ICB (Industry Classification Benchmark) in the "Oil Services"
sector, BOURBON is listed for trading on Euronext Paris, Compartment A, and is
included in the Deferred Settlement Service SRD and in the SBF 120 and Dow
Jones Stoxx 600 indices.

Contacts

Publicis Consultants / Press Relations

Jérôme Goaer      +33 (0)1 44 82 46 24  jerome.goaer@consultants.publicis.fr
Vilizara Lazarova +33 (0)1 44 82 46 34
vilizara.lazarova@consultants.publicis.fr

BOURBON
Investors - Analysts - Shareholders Relations
Patrick Mangaud    +33 (0)1 40 13 86 09 patrick.mangaud@bourbon-online.com
Communications Department
Christa Roqueblave +33 (0)1 40 13 86 06 christa.roqueblave@bourbon-online.com

                             www.bourbon-online.com

Christian Lefèvre
Chief Executive Officer of BOURBON

Christian Lefèvre is a graduate of the French Marine Merchant National School
in 1984 and earned his Captain 1st class certification in Marine Navigation in
1988.

He began his career with BOURBON as an officer, then serving as Chief engineer
and Offshore Vessel Captain for Bourbon Offshore Surf, before becoming Shore
Base Manager in Gabon and then in Cameroon. Subsequently, he was appointed
Chief Operating Officer for Bourbon Offshore Surf from 1990 to 1995, then
Managing Director of Bourbon Offshore Surf from 1996 to 2001.

In the context of BOURBON's strategy to focus on marine services in 2001,
Christian Lefèvre became CEO of the Offshore Division of BOURBON.
Since December 2005, he is Executive Vice President and Chief Operating
Officer as well as member of the Executive Committee.
He is appointed Chief Executive Officer of BOURBON as of January 1st 2011.

Gaël Bodenes
Executive Vice President - Chief Operating Officer

Gaël Bodenes is a naval engineer graduate in 1991 from ENSIETA (French Navy
High School of Naval Engineering). He also holds a MBA Degree awarded by HEC
Paris (Hautes Etudes Commerciales) in 2007.

He began his career for French Navy (DGA) as a naval engineer in the
Newbuilding design department, then joined the sales department of the DCN in
Brest (France). In 1998, he joined International Shipbrokers Barry Rogliano
Salles as senior offshore shipbroker.

In September 2002, Gaël Bodenes joined BOURBON as Marketing and Business
Development Manager for the Offshore Division. In this position, created in
the context of the 2003-2007 strategic business plan involving an investment
programme of 1.08bn euros in the offshore business, he supervises the business
management of the offshore oil services international fleet. In line with the
growth of the business, he contributes to the structuring of the Offshore
Division and to the development of the Marketing Department of Bourbon
Offshore.

In September 2005, he was appointed Deputy CEO of Bourbon Offshore, before
becoming in 2010 Executive Vice President Offshore Division, in charge of
Business Management.

As of January 2011, he is appointed Executive Vice President and Chief
Operating Officer of BOURBON, as well as member of the Executive Committee.

Laurent Renard
Executive Vice President - Chief Financial Officer

Laurent Renard is a graduate of the Ecole Supérieure de Commerce de Paris in
1975. He began his career with the Royal Dutch Shell group, where he held
various positions during his 24 years with the group. After a number of
assignments in Africa, France and the Netherlands, Laurent Renard was
appointed Finance Manager of Oman LNG (Sultanate of Oman) from 1993 to 1996,
then Finance Manager for Shell UK Downstream in London from 1996 to 1997,
before becoming Finance Manager of Exploration-Production for Shell
International in The Hague from 1997 to 2000.

In 2000, Laurent Renard joined Technip-Coflexip, where he created the internal
audit department before joining BOURBON in mid-2003 as Chief Financial Officer
of the marine services branch.

Since December 2005, Laurent Renard has served as BOURBON Executive Vice
President, Chief Financial Officer and is a member of the Executive Committee.

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BOURBON (EPA:GBB) Corporate Governance changes at BOURBON

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