Aberdeen-based oil and gas service group has no plans to replace executive chairman

Founder Locke exits Abbot to let next generation take over

By Ian Forsyth

Published: 05/11/2009

Leading north-east businessman Alasdair Locke has stepped down as executive chairman of Aberdeen-based Abbot Group.

His departure is believed to have followed a difference of opinion with the new owners on future strategy.

Mr Locke founded the oil and gas service company in 1992 and collected nearly £120million from a deal announced in December 2007 to take it private. Abbot announced his departure yesterday and said it had been agreed by mutual consent with its primary shareholders, First Reserve and Pamplona.

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