GulfMark Offshore announced that Samuel "Sam" R. Rubio will be promoted to the position of Chief Financial Officer upon completion of the filing of the company’s Form 10-K.
Rubio will replace James "Jay" M. Mitchell, who will transition his responsibilities to Rubio over the next several weeks.
Rubio joined GulfMark in 2005 and became Vice President – Controller and Chief Accounting Officer in 2008 and was promoted to Senior Vice President – Controller and Chief Accounting Officer in 2012.
Rubio has over 35 years of experience in accounting at both operating division and corporate levels as well as the management of accounting organizations. He holds a Bachelor of Business Administration degree from Sul Ross State University and is a Certified Public Accountant and a member of both the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants.
"As Sam assumes the CFO responsibilities we will be implementing further improvements in the efficiency and cost effectiveness of our operations," said Quintin Kneen, GulfMark’s President and Chief Executive Officer. "We are beginning to see improving market conditions, and these improvements coupled with our lower cost structure position GulfMark well to return to positive earnings and cash flow."
GulfMark Offshore completed its financial restructuring plan and emerged from chapter 11 bankruptcy protection in November 2017
"Following the restructuring, we have one of the strongest balance sheets in the OSV industry and have implemented operational changes that have lowered our cost structure," Kneen said.