Houston-based offshore equipment and services company Deep Down announced that its CFO Charles Njuguna will replace company founder Ronald Smith as CEO and as a member of the Board of Directors, effective August 31.
Smith, who is leaving Deep Down to pursue interests outside the oil and gas industry, will continue to provide technical guidance in a consulting capacity through 2021, the company said in a press release.
Deep Down has also commenced a search for a Chief Operating Officer, it said.
Njuguna joined Deep Down in 2012 to manage the company's corporate accounting activities, and in 2015 was appointed Business Manager to oversee all commercial activities. He was appointed CFO in 2017. Njuguna has over 20 years of international business experience, including various operational and financial management roles in the US, UK and Africa.