Bristow elects new CFO to mitigate effects of downturn
Offshore helicopter operator Bristow Group has appointed Jennifer Whalen as Senior Vice President, Chief Financial Officer (CFO) of the company effective on Wednesday.
In this role, she is responsible for accounting, financial reporting, investor relations, M&A, tax and other financial aspects of the company.
She was previously serving as the CFO in an interim role since June 2020.
“Jennifer brings a wealth of knowledge about our business as well as existing relationships that will help the newly combined company enhance internal controls, processes and operations”, said Bristow President and Chief Executive Officer Chris Bradshaw.
“I believe Jennifer is the best person for the job, as we navigate and mitigate the effects of the downturn in the offshore oil and gas industry and emerge with a more efficient cost structure”.
Whalen previously served as the Senior Vice President, Chief Financial Officer for Era Group Inc. from February 2018 to June 2020. She served as Era’s Vice President and Chief Accounting Officer from August 2013 until her appointment as Vice President, Acting Chief Financial Officer in June 2017. She joined Era as Controller in April 2012.
To remind, Bristow and Era merged earlier this year, creating a new helicopter giant.
“I am excited for the opportunity to continue to partner with my colleagues as we execute our strategy around efficiency and cash flow generation”, said Jennifer Whalen, Senior Vice President and Chief Financial Officer.
From August 2007 to March 2012, Whalen served in several capacities at nLIGHT Photonics Corporation, a supplier of high-performance lasers, including as Director of Accounting. Prior to these roles, she served as the Manager of Accounting at InFocus Corporation for over two years.
After serving in the U.S. military, Whalen started her career in public accounting in the assurance practice group at PricewaterhouseCoopers for five years.
Bristow also announced on Wednesday that on 16 September 2020 its board of directors approved a new $75 million share repurchase program.
The program is expected to be funded using cash on hand and cash generated from operations. The repurchase program does not require Bristow to acquire any specific number of shares and may be terminated or suspended at any time.