Well technologies provider for the oil and gas industry Welltec said that its chief financial officer, Michael Krabbe, has resigned from his position.

Krabbe’s last day with Welltec will be November 30, 2017 as he leaves to pursue new challenges as CFO with Maersk Supply Service.

Søren Søgaard Suhr, currently finance director treasury of Welltec, will replace Krabbe as Acting CFO and will assume the responsibilities of CFO with immediate effect.

For the period to November 30, 2017, Krabbe will continue to work for Welltec and the Acting CFO. During this time, Suhr and Krabbe will work to ensure a smooth transition.

“Welltec A/S would like to take the opportunity to thank Mr Krabbe for his contribution to the company over the last 6 years and wish him all the best in his future career,” the company said in a press statement.