. Adjustments to senior management model established in 2012
In order to facilitate strategic decision-making and further management efficiency SBM Offshore announces that it has reduced the top of its governance structure from three layers, comprising of the Supervisory Board, Management Board and Board of Management, to two by removing the Board of Management. The Management Board (comprised of the CEO, CFO and CGCO) and the SBM Offshore business model remain unchanged.

A new position of 'Group Executive Managing Director' has been created reporting to the CEO with Bernard van Leggelo, formerly Managing Director of the SBM Houston Execution Centre, having been appointed to this new role with immediate effect. He will focus on the execution of the Company's operational strategy and long-term planning.

A broad portfolio of responsibilities is assigned to the Managing Directors responsible for the performance of their Execution Centre. With immediate effect, all Managing Directors will report directly to the CEO and have a functional reporting line to the new Group Executive Managing Director.

Furthermore, the position of Chief Technology Officer has been retitled 'Group Technology Director' to reflect the structural reform. Michael Wyllie will continue in that role with unchanged responsibilities.

Bruno Chabas, CEO, SBM Offshore said:
"I am pleased to announce a further evolution of our management structure. Our successes thus far in 2013 are showing the merits of our organizational model, and these adjustments will facilitate faster decision-making. Our focus continues to be on flawless execution of projects and attaining the highest levels of client satisfaction. We all welcome Bernard van Leggelo to the new position of Group Executive Managing Director, a role in which he can bring to bear his considerable experience of delivering for SBM's clients."

Bernard Van Leggelo has been with SBM since 1995 and in his current role as Managing Director of the SBM Houston Execution Centre since 2007. Mr. van Leggelo has an MS in Ocean Engineering from the University of Connecticut, USA, and a BS in Mechanical and Electrical Engineering from Ecole Centrale, Brussels, Belgium. He will relocate to Monaco to take up his new role.