Teekay Corp Elects New CEO

Bermuda-based shipping company Teekay Corporation has appointed Kenneth Hvid as its new Chief Executive Officer, as the company’s current President and CEO, Peter Evensen, plans to retire on January 31, 2017.

Having worked for Teekay for more than 13 years, Evensen will also retire from his positions as CEO and CFO of Teekay LNG Partners and Teekay Offshore Partners and his board positions at Teekay, Teekay LNG, Teekay Offshore, and Teekay Tankers.

As part of the transition process, Teekay said that Evensen will be retained as an advisor following his retirement as President and CEO.

Kenneth Hvid, who is currently serving as the President and CEO of Teekay Offshore Group, “is the natural successor to Peter Evensen as CEO of Teekay at this time,” Sean Day, Teekay’s Chairman, said.

“He has had multiple roles in his 16 years at Teekay, including leadership positions in offshore, LNG, tankers, strategy, and operations, as well as having worked extensively in Vancouver and Norway,” Day added.

Consequently, Ingvild Sæther will be appointed President and CEO of Teekay Offshore Group, while Mark Kremin will be appointed President and CEO of Teekay Gas Group.

The combined Teekay entities currently manage and operate consolidated assets of approximately USD 13 billion, comprised of some 220 liquefied gas, offshore, and conventional tanker assets, and have forward fee-based contracted revenue totaling over USD 20 billion.

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