UPDATE 1-Lamprell bosses go after latest profit warning

Thu Oct 4, 2012 10:31am EDT

Oct 4 (Reuters) - Oil rig maker Lamprell said its chief executive Nigel McCue had stepped down along with two other senior managers, a day after its new chairman said he wanted to make changes at the top in the light of the company's fourth profit warning in a row.

Lamprell said on Thursday that McCue would leave the United Arab Emirates-based company and that the company's chief financial officer, Jon Cooper, and chief operating officer, Chris Hand, would also leave once replacements had been found.

McCue's predecessor Peter Whitbread who was boss until 2009 will take on the top job on an interim basis, said Lamprell.

A spokesman for the company declined to comment on whether McCue had resigned or not.

Lamprell has had repeated problems with a contract to deliver two windfarm vessels, which has incurred spiralling costs, and said on Wednesday that it had to defer revenues from a separate construction project, as it announced its fourth profit warning since the Spring.

The company's shares, which have plunged 74 percent since the start of the year, were flat at 1428 GMT.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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