Petroconsultants - thay's trouble at t'mill*! (March 1999)

A report in the Geneva-based journal Le Temps describes the difficulty of restructuring a traditional European business.

IHS Energy is having a hard time restructuring its European unit, Petroconsultants, according to a report by Roland Rossier writing in the local newspaper Le Temps. Firing CEO Jean Christophe Fueg and handing over the management function to IEDS has ruffled feathers amongst Petroconsultants employees who regard the fusion with IEDS as a 'dismembering' of the scouting group. Fueg has been replaced by Jan Roelofsen who described Fueg's ousting as due to "friction with the IHS management". One difficulty facing IHS management is inherent in the nature of the scouting business. Whereas a restructuring oil and gas company may fire 'expendable' G&G's, much of the value of Petroconsultants' scouting asset lies with the people.

* translation - "there is trouble at the mill".

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