Maritime services group SBM Offshore announced on Thursday a substantial net loss of €174.3m in the first six months of 2011. CEO Tony Mace said during the presentation he takes responsibility and is leaving the company.

The loss is the result of hefty setbacks in a number of projects, Mace said. ‘I regret that I have not been able to get these projects under control.’ He will leave at the end of 2011 but would not say if he was pushed or had jumped.
He is being replaced by the Frenchman Bruno Chabas, who joined the company in May.