Subsea 7 S.A. announced that, with effect from 1 January 2015, it will be changing the organizational structure of its business to better align it to the group's strategic priorities. The changes are also designed to further strengthen the group's execution capabilities and competitiveness. The new organizational and segmental reporting structure will comprise two Business Units, which replace the existing four geographical Territories, and a Corporate segment. The Northern Hemisphere and Life of Field Business Unit will comprise: UK and Canada Region, Norway Region, Gulf of Mexico Region, Life of Field Business, and i-Tech Division. The Life of Field Business and i-Tech Division will be managed globally. The Southern Hemisphere and Global Projects Business Unit will comprise: Africa Region, Asia Pacific and Middle East Region, Brazil Region, and Global Projects. The corporate segment will continue to be reported separately and remains unchanged.

The Northern Hemisphere and Life of Field Business Unit and the Southern Hemisphere and Global Projects Business Unit will be led respectively by Executive Vice Presidents Steve Wisely and Øyvind Mikaelsen who will both report to John Evans, Chief Operating Officer. In recognition of his new responsibilities, Øyvind Mikaelsen will join the Executive Management Team of the Group, effective 1 January 2015.