Finance
Norway's Subsea7 CEO evans to retire, fitzgerald named successor
Published by Global Banking & Finance Review®
Posted on March 3, 2026
1 min readLast updated: March 3, 2026
Quick Summary
Subsea7 announced on March 3 that CEO John Evans will retire on June 30, to be succeeded by Seaway7 CEO Stuart Fitzgerald starting July. Fitzgerald is also expected to lead the combined entity if the Saipem–Subsea7 merger closes as planned.
Subsea7 CEO John Evans to Retire, Stuart Fitzgerald Announced as Successor
Leadership Transition at Subsea7
Retirement of John Evans
March 3 (Reuters) - Norwegian energy contractor Subsea7 said on Tuesday that CEO John Evans will retire later this year and will be succeeded by Stuart Fitzgerald.
Evans, a company veteran, will retire on June 30 and Fitzgerald will take over starting July, the company said in a statement.
Stuart Fitzgerald’s Appointment
Current Role and Future Plans
Fitzgerald is currently CEO of Seaway7, part of the Subsea7 Group. He has also been proposed as CEO of the combined entity after the completion of a planned merger of Subsea7 with Italian oil services firm Saipem, the company said.
Merger with Saipem
Details of the Merger
In 2025, Saipem agreed to merge with rival Subsea7 in a deal valued at about $4.63 billion to create a global player — to be renamed Saipem7 — in offshore energy services.
Reporting and Editing
(Reporting by Bipasha Dey in Bengaluru; Editing by Sahal Muhammed)
Key Takeaways
- •John Evans, CEO of Subsea7 since January 2020, will retire effective June 30 2026, with Stuart Fitzgerald stepping in from July 2026 (globaldata.com)
- •Stuart Fitzgerald, current CEO of Seaway7 and long‑time Subsea7 executive, will become Subsea7 CEO and likely lead the merged Saipem7 entity upon completion of the merger (seaway7.com)
- •The planned merger with Saipem—valued at approximately $4.6 to $4.63 billion—is progressing, aiming to form Saipem7, with expected synergies of around €300 million annually and a 50–50 ownership structure (bairdmaritime.com)
References
Frequently Asked Questions about Norway's Subsea7 CEO Evans to retire, Fitzgerald named successor
1Who is retiring as CEO of Subsea7?
John Evans is retiring as CEO of Subsea7 later this year.
2Who will succeed John Evans as CEO of Subsea7?
Stuart Fitzgerald will take over as CEO of Subsea7 starting July.
3What is Stuart Fitzgerald's current role?
Stuart Fitzgerald is currently CEO of Seaway7, part of the Subsea7 Group.
4What major merger is Subsea7 involved in?
Subsea7 is merging with Italian oil services firm Saipem in a $4.63 billion deal.
5What will the new combined entity be called after the merger?
The merged company will be renamed Saipem7.
