Oilfield services provider Petrofac Ltd said on Tuesday that Sami Iskander would step down as chief executive officer at the end of March 2023, and be replaced by Tareq Kawash.

Iskander took over the top job at Petrofac in 2020.

"Having overseen the resolution of the SFO's (Serious Fraud Office's) historic investigation and led a comprehensive refinancing programme, Sami has reshaped the business and put it firmly on a path to growth," Chairman Rene Medori said in a statement.

Kawash will take over as CEO on April 1. (Reporting by Radhika Anilkumar in Bengaluru; editing by Uttaresh.V and Savio D'Souza)