Ayman Asfari

Last updated

Ayman Asfari
Born
Ayman Asfari

(1958-07-08) 8 July 1958 (age 66)
Syria
NationalityBritish
Education Villanova University
University of Pennsylvania (MBA, MS)
OccupationBusinessman
TitleCEO, Petrofac
Term2002–2020
Board member ofPetrofac
SpouseSawsan Asfari
Children4
Website www.aymanasfari.com

Ayman Asfari (born 8 July 1958) is a Syrian-British former billionaire businessman. He was the chief executive (CEO) of Petrofac, a Jersey-registered multinational oilfield services company serving the oil, gas and energy production and processing industries, from 2002 to 2020, and became a non-executive director. Petrofac was involved in bribery charges leading to a near-collapse of the business. [1]

Contents

Early life

Asfari was born in Syria, the son of a diplomat, but raised outside the country. His first job was in Oman, as a consulting engineer carrying out soil testing. [2]

He is a graduate of Villanova University in Pennsylvania in the United States, and holds an MSc in Civil and Urban Engineering from the University of Pennsylvania.[ citation needed ] He attended the Wharton School of the University of Pennsylvania for his MBA. [3]

Career

Before joining Petrofac, Asfari served as the managing director of a major Oman-based civil and mechanical construction business. [4] He joined Petrofac in 1991 when it had one plant in Tyler, Texas. He bought out the company in 2001, and took it public on the London Stock Exchange in 2005.

In February 2015, Forbes calculated Asfari's net worth at $1.2 billion. [3] Asfari won the UK category of the Ernst & Young Entrepreneur of the Year Awards in 2011. [5]

In 2019, Asfari's paycheck from Petrofac was cut by 45% to £980,000, down from £1.8 million in 2018. [6] He stood down as CEO on 31 December 2020, and became a non-executive director in January 2021. [7]

Political and charitable donations

The Asfari Foundation was established in 2006 by Ayman and Sawsan Asfari and is based in London. It is funded by the Asfari family and has five trustees. The foundation supports projects that encourage the development of civil society and provide emergency humanitarian relief, and also offers academic scholarships. [8]

In May 2017, Asfari and his wife donated £100,000 to the British Conservative Party election campaign, days before Asfari was scheduled to be interviewed by the Serious Fraud Office relating to its enquiry into Unaoil. [9] In total Ayman and Sawsan Asfari donated £794,000 to the party between 2009 and 2017. [10]

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References

  1. ↑ "Ayman Asfari". Forbes. Retrieved 16 December 2023.
  2. ↑ "Profile: Ayman Asfari of Petrofac". The Financial Times. 13 June 2011. Retrieved 24 November 2012.
  3. 1 2 "Ayman Asfari". Forbes. February 2015. Retrieved 22 February 2015.
  4. ↑ "Ayman Asfari: Executive Profile". BusinessWeek. Archived from the original on 18 January 2013. Retrieved 24 November 2012.
  5. ↑ "Ernst & Young Entrepreneur of the Year". www.ft.com. Archived from the original on 24 September 2019. Retrieved 27 October 2020.
  6. ↑ Findlay, Keith (31 March 2020). "Petrofac's chief takes a 45% drop in pay". Energy Voice. Retrieved 11 August 2020.
  7. ↑ "Ayman Asfari, Non-executive Director". Petrofac. Retrieved 30 October 2021.
  8. ↑ Montasser, Nadia (18 December 2014). "The Asfari Foundation UK Masters scholarship". Al-Fanar Media. Retrieved 15 March 2016.
  9. ↑ Kenber, Billy (19 May 2017). "Unions prove no match for May's millionaire donors". The Times . p. 12.
  10. ↑ Watt, Holly; Syal, Rajeev (18 May 2017). "Tories receive £50,000 from man questioned by Serious Fraud Office". The Guardian. ISSN   0261-3077 . Retrieved 27 October 2020.
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