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Petrofac sets up new compliance and ethics committee

09 August 2017 13:07

Petrofac has announced that the Company has established a new Compliance and Ethics Committee.

This Committee will be responsible for overseeing the Company's compliance and ethics programme, as well as the continued monitoring of the effectiveness of the Company's Code of Conduct and other Petrofac policies and standards in relation to compliance and ethics.

These include the Standard for the Prevention of Bribery and Corruption and the Ethical, Social and Regulatory Risk Policy.

The Committee will comprise three Non-executive Directors, namely George Pierson as Committee Chairman, Andrea Abt and Matthias Bichsel.

The Company has also appointed Edward Sparrow as senior external specialist to oversee the Company's management of, and response to, the investigation by the UK Serious Fraud Office announced in May.

At 1:07pm: (LON:PFC) Petrofac Ltd share price was -7.5p at 460p

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