Shane Guidry, like many stakeholders in recent restructurings during the offshore downturn, is seeing his shareholding reduced in the family company, Harvey Gulf International Marine.
The Harvey Gulf chairman and chief executive will see his current 23% holding fall to about 12%, according to the management incentive programme and a series of strike-price warrants in the restructuring plan.
The 63-year-old company, which was previously run by Guidry’s father and grandfather, will see new shareholders as a series of its banks swap about $1bn of debt for equity.
