(RTTNews) – Petrofac Limited (POFCF.PK, PFC.L) announced Monday the appointment of Sami Iskander as Deputy Chief Executive on November 1. Following a short transition period, he will assume the role of Group Chief Executive from January 1, 2021, at which time he will also be appointed as an Executive Director to Petrofac’s Board of Directors.

Iskander succeeds Ayman Asfari, co-founder, who has decided to retire as Group Chief Executive at the end of the year to focus on his family, health and charitable interests.

On January 1, Asfari will be appointed as a Non-executive Director to Petrofac’s Board of Directors, to provide stability and continuity.

Asfari has been in the industry for nearly 40 years, and with the company for 30 years.

Iskander is a senior executive with over 30 years’ international experience in both oilfield services and E&P companies. He was appointed Executive Vice President for Shell’s Upstream Joint Ventures business in February 2016 until 2019.

From 2008 and prior to joining Shell in 2016, he worked in BG Group where he held the position of Chief Operating Officer from November 2013.

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(RTTNews) – Iron Mountain Inc. (IRM), the storage and information management services company, announced Tuesday the formation of a 300 million+ Euro joint venture with an affiliate of AGC Equity Partners, a London-based global alternative asset manager, to design and develop a 280,000 square foot, or 27 megawatt, hyperscale data center currently under development in Frankfurt, Germany.

Frankfurt Data Center is 100% pre-leased to a U.S.-based Fortune 100 customer subject to a 10-year lease agreement. Full build-out of the 27 megawatt data center is expected in the second quarter of 2022.

Iron Mountain will be responsible for managing the design and development of the data center as well as administering the Lease.

Under the terms of the agreement, AGC will own an 80% equity interest and Iron Mountain will own a 20% equity interest in the Venture. AGC contributed cash to purchase its 80% equity interest in the Venture, while Iron Mountain retained a 20% equity interest in the Venture.

Iron Mountain will earn various fees, including property management and construction and development fees for services provided to the Venture.

Debt financing for the Venture is expected to close in the fourth quarter of 2020, with proceeds expected to fund a portion of the planned development and construction costs.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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(RTTNews) – Home improvement retailer Home Depot, Inc. (HD) announced Friday that Edward “Ted” Decker has been named president and chief operating officer, effective October 5, 2020. Decker, a 20-year veteran of the company, has served as executive vice president of merchandising since 2014.

In his new role, Decker will assume additional responsibility for global store operations, global supply chain, and outside sales and service.

Ann-Marie Campbell has been named executive vice president of U.S. stores and international operations. The presidents of The Home Depot Canada and The Home Depot Mexico will now report to her. Campbell, a 35-year veteran of The Home Depot, will now lead more than 2,200 stores and 400,000 associates.

Jeff Kinnaird has been promoted to executive vice president of merchandising, reporting to Decker. Most recently, he was president of The Home Depot Canada.

Michael Rowe has been promoted to president of The Home Depot Canada. Rowe was most recently vice president of e-commerce, marketing and contractor services.

Richard McPhail, executive vice president and chief financial officer, will assume the additional responsibility for the company’s corporate strategy and strategic business development. McPhail joined the company in 2005 and was named CFO in 2019.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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(RTTNews) – While reporting financial results for the first quarter of fiscal 2021 on Thursday, Conagra Brands, Inc. (CAG) provided only its adjusted earnings and organic net sales growth guidance for the second quarter of fiscal 2021.

The company is still not initiating annual outlook, as is usual, as the impact of the COVID-19 pandemic on its full year fiscal 2021 consolidated results is uncertain.

The Company continues to expect demand in retail to remain elevated and demand in foodservice to remain challenged versus historical norms. However, the degree and timing of changes in retail and foodservice demand levels are difficult to predict with enough certainty to provide a full-year outlook at this time.

For the second quarter, the company expects adjusted earnings in a range of $0.70 to $0.74 per share and organic net sales growth of 6 to 8 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.71 per share on revenue growth of 4.0 percent to $2.93 billion for the quarter. Analysts’ estimates typically exclude special items.

The company said it continues to see a significant increase in demand in its retail segments and also continues to see reduced demand in its Foodservice segment when compared to pre-COVID-19 demand levels. COVID-19-related costs have also continued to impact the business.

Looking ahead to the long-term algorithm, the company continues to project adjusted earnings for fiscal 2022 in the range of $2.66 to $2.76 per share and organic net sales growth at a 3-year CAGR ending fiscal 2022 of 1 to 2 percent. It also remains committed to achieving its leverage target of 3.5x to 3.6x by the end of fiscal 2021.

Additionally, the Company’s board of directors also approved a 29 percent higher quarterly dividend payment of $0.275 per share of