Ayman Asfari Explained

Ayman Asfari
Birth Name:Ayman Asfari
Birth Date:1958 7, df=yes
Birth Place:Syria
Nationality:British
Education:Villanova University
University of Pennsylvania (MBA, MS)
Occupation:Businessman
CEO, Petrofac
Term:2002–2020
Boards:Petrofac
Spouse:Sawsan Asfari
Children:4

Ayman Asfari (born 8 July 1958) is a Syrian-British 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.[1]

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. He attended the Wharton School of the University of Pennsylvania for his MBA.

Career

Before joining Petrofac, Asfari served as the managing director of a major Oman-based civil and mechanical construction business.[3] 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.[4] 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]

Notes and References

  1. Web site: Ayman Asfari . 2023-12-16 . Forbes . en.
  2. News: Profile: Ayman Asfari of Petrofac . The Financial Times. 13 June 2011. 24 November 2012.
  3. Ayman Asfari: Executive Profile . https://archive.today/20130118232754/http://investing.businessweek.com/research/stocks/people/person.asp?personId=2327040&ticker=POFCF . dead . 18 January 2013 . BusinessWeek. 24 November 2012.
  4. Web site: Ayman Asfari . Forbes. February 2015. 22 February 2015.
  5. Web site: Ernst & Young Entrepreneur of the Year. live. https://web.archive.org/web/20190924213101/https://www.ft.com/content/ca4a8144-e91d-11e0-9817-00144feab49a . 24 September 2019 . 2020-10-27. www.ft.com.
  6. Web site: Findlay. Keith. 2020-03-31. Petrofac's chief takes a 45% drop in pay. 2020-08-11. Energy Voice. en-US.
  7. Web site: Ayman Asfari, Non-executive Director . Petrofac . 30 October 2021.
  8. Web site: The Asfari Foundation UK Masters scholarship. Al-Fanar Media. 15 March 2016. Nadia. Montasser. 18 December 2014.
  9. News: Unions prove no match for May's millionaire donors. Billy. Kenber. The Times. 19 May 2017. 12.
  10. News: Watt. Holly. Syal. Rajeev. 2017-05-18. Tories receive £50,000 from man questioned by Serious Fraud Office. en-GB. The Guardian. 2020-10-27. 0261-3077.