Mr Shanks took up his new role on June 1 this year, in a move which the firm said would add further strength to the board and executive leadership team.

In his new role, Mr Shanks will oversee the global finance team and contribute to the company’s ongoing growth strategy.

With a wealth of cross-industry experience in accelerating corporate growth as well as managing investor relations, raising capital, strategic business planning and handling mergers and acquisitions, Mr Shanks previously held executive management positions with EY, ISS and ROVOP ltd before launching his consultancy.

Mr Shanks will succeed Duncan Scott, who is retiring as ROMAR’s CFO after serving the company for six years. Mr Scott will remain at ROMAR through June 2020 to support the transition to Mr Shanks.

Commenting on his appointment, Alan Shanks said: “While it is unquestionably a challenging period for the industry, it’s an exciting time to join ROMAR. Despite the uncertainties of late, the team has done a fantastic job of preparing the business for inclement weather, and the robustness of the ROMAR business model presented me with an attractive opportunity.

“It’s clear that there is significant scope for future growth here, and I look forward to exploring that further. I would like to thank Duncan for his demonstrable commitment to the business through his tenure. His efforts have positioned the business well for further growth, and I look forward to working with the ROMAR team to build on his legacy and ensure ongoing support for our clients as they navigate these trying times.”

Speaking of the changes, CEO Malcolm MacKenzie, added: “We owe a lot to Duncan, who has been an integral part of the company’s executive leadership team and helped secure the business through some exceptionally trying times for the industry. He has been instrumental to our growth, and we thank him for his dedication and commitment to the business. We are sad to lose him to golf, but we are also delighted to welcome Alan on board. His fresh insight and experience will undoubtedly add further strength to our board and leadership team, and we all look forward to working with him.”

This is the second executive appointment this year for the oil-field services company has built a solid foundation to weather an inclement economic climate.