Petrofac Limited has announced the establishment of a fund at the American University of Beirut (AUB) to honour the legacy of its co-founder Maroun Semaan.
Lebanese philanthropist and entrepreneur Maroun Semaan was posthumously honored for his significant contributions to the advancement of education at the AMIDEAST Award Gala.https://anca.org/amideast-to-celebrate-education-hero-maroun-semaan/
PETROFACâS president, executive director and co-founder Maroun Semaan has decided to retire after 22 years with the oil and gas service provider.Semaan joined the group in 1991 and joined the board in 2002.
He played a key role in the groupâs listing as a public company back in 2005 and held a number of c-level executive positions since then.Semaan steps down at the end of the year and it is understood that the president role â which was essentially created for him â will not be filled with another candidate.âI will leave the business confident in its future prospects to deliver strong, sustainable growth over the long-term, and on my part intend to remain a long term shareholder,â said Semaan.âSince we co-founded Petrofac in 1991 the business has enjoyed tremendous growth,â said group chief executive Ayman Asfari.
âMuch of that growth is directly attributable to Maroun.â
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