Canada: Husky Energy Announces Management Changes

The Board of Directors of Husky Energy Inc. announces the appointment of Mr. Stephen Bradley, Mr. Frederick Ma and Mr. George Magnus as Directors. The appointments are effective immediately.

Mr. Bradley, 52, brings extensive international diplomatic experience, having served in a number of senior roles with the British Foreign and Commonwealth Office, including as Minister, Deputy Head of Mission & Consul-General in Beijing, and Head of the West Indian & Atlantic Department. From 2003 to 2008 he served as the British Consul-General to Hong Kong.

Mr. Ma, 58, has more than 25 years experience in the global financial services industry in Canada, the United States, United Kingdom and Hong Kong. In 2002 he left the private sector to join the Hong Kong Special Administrative Region as the Secretary for Financial Services and the Treasury. He later became the Secretary for Commerce and Economic Development. At present, he is the Chairman and Non-Executive Director of China Strategic Holdings Ltd., a Hong Kong-listed company. He also serves as a Member of the International Advisory Council of China Investment Corporation and as an Honorary Professor in the School of Economics and Finance at the University of Hong Kong.

Mr. Magnus, 74, served for over 20 years as the Deputy Chairman of Cheung Kong (Holdings) Ltd., one of the largest property development and holding companies in Hong Kong. He is also the former Chairman of Hongkong Electric Group, which supplies all the electricity to Hong Kong Island, and former Deputy Chairman of Cheung Kong Infrastructure Ltd. and the Hutchison Whampoa Group. He continues at all of the named companies as a non-executive Director.

The Board of Directors would also like to announce that Mr. John C.S. Lau is stepping down as a Director of Husky Energy. Mr. Lau has been named President & Chief Executive Officer, Asia Pacific and will focus his efforts on building a growth-oriented oil and natural gas business in the region. The Board continues to evaluate options for Husky Asia Pacific, including a potential spinoff.

Husky Energy Inc.  is a large integrated Canadian energy company based in Calgary, Alberta

Focusing on petroleum and natural gas exploration, production, refining and retail sales, the company primarily conducts operations in Canada, the United States, China and Indonesia. The company employs approximately 4100 people (as of 2007), has almost $21 billion in assets, and produces an average of 385,000 barrels (61,200 m3) of oil equivalent per day (projected average low end for 2008), making it one of Canada’s largest energy companies. The company also owns the Mohawk Gasoline brand. Hong Kong businessman Li Ka-shing owns a majority interest in Husky Energy through his holding company Hutchison Whampoa.

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Source: HuskyEnergy, July 28, 2010: