Plexus founder and boss set to retire

After more than 50 years in the industry and 19 years as chief executive of the company he founded, Ben van Bilderbeek has retired as the boss of Plexus and moved to the position of non-executive chair.

He replaces Jeff Thrall, who has been chair since 2012 and will remain on the board as a non-executive director.

Craig Hendrie, who has been with Plexus for over 25 years - including 19 years as technical director - has been appointed as the new chief executive.

Hendrie was instrumental in the development, testing and analysis of the proprietary POS-GRIP friction-grip method of wellhead engineering. More recently, he has been involved in day-to-day activities as a director of Plexus Ocean Systems in Aberdeen.

In addition, after 19 years with the company, Graham Stevens has retired as finance director and stepped down from the board. He is replaced by Mike Park, who has been an employee of Plexus for 20 years and was previously a director and financial controller of Plexus Ocean Systems.

In a further addition to the board, Anastasio van Bilderbeek has been appointed as an executive director and will be responsible for engagement with existing and prospective shareholders, as well as assisting with company strategy and business development.

As part of this succession plan, both Ben van Bilderbeek and Graham Stevens will stay on as full-time employees for six months, to assist the new board as required.

Hendrie said: "I am immensely proud and grateful for the opportunity to step up to become CEO of Plexus and congratulate my fellow board members, Mike Park and Stas van Bilderbeek, on their appointments - we look forward to updating the market with our goals and strategic plans in the coming months.

"I would like to take this opportunity to thank the outgoing board members and reflect on their contributions to the company over many years.

"Ben van Bilderbeek has had a remarkable career and his contribution as the founder of Plexus and inventor of our proprietary POS-GRIP method of engineering is immense.

"He has led the Company through various challenges and opportunities such as industry downturns, Russian sanctions and the Covid pandemic, and has always remained confident in the company and its technology and continued to personally back it at every opportunity.

"Graham Stevens was instrumental in preparing the company for AIM admission back in 2005, and since then, he has worked tirelessly to drive the business forward, manage regulatory and compliance matters, foster relationships with key stakeholders, and coordinate several key strategic transactions."

Hendrie added: "We look forward to continued support from Ben from his role as chair, from Jeff who will continue as a non-executive director, and from Graham, who will assist us over the next six months."

Headquartered in Aberdeen, Plexus has provided leak-free wellhead engineering in more than 400 wells worldwide and worked with a variety of oil and gas company clients.

Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.