Cooper was appointed to the role in January following the resignation of David Singleton.
Cooper will continue with Clough as a company director.
“John Smith is an engineer with 30 years broad international experience within the oil and gas contracting industry, having held a succession of engineering, project management, general and executive management positions in the UK, Norway and Australia,” chairman Mike Harding said.
“Recently he led the strategic process resulting in the formation of Subsea7 and was CEO of that company for the first two years of its existence.
“John has demonstrated both strong operational and strategic leadership of contracting organisations similar in size and complexity to Clough.”
The company also outlined the principal terms of Smith’s remuneration package as agreed by the Clough board, comprising a total fixed cost of employment of $1.3 million per annum, including base salary, all allocations to superannuation and all taxes including fringe benefits tax.
Smith will receive an annual incentive payment of up to 80% of the base salary based on successful performance.
Harding said Cooper should be thanked for steering the company over the past six months and in particular for developing and implementing the first stages of Clough’s growth strategy.
