CHC chief executive resigns. Interim CEO named

  • Business & Finance

President and chief executive officer of helicopter operator CHC has resigned to accept an opportunity outside of the oil and gas industry.

CHC said on Wednesday that president and CEO Karl Fessenden would resign from the company on August 2.

Dave Balevic, SVP of engineering and operations, will assume the role of interim CEO while the company looks for Fessenden’s successor.

Fessenden said: “It has been a privilege working shoulder-to-shoulder with the best team in the business. I want to thank the team and the board of managers for their support.

“CHC is in a strong position both financially and competitively in the marketplace, and the course to a bright future is set by continuing to execute our strategy.”

John Gremp, chairman of CHC board of managers, added: “On behalf of the board, we thank Karl for his service and many accomplishments during his tenure as CEO. We will always be grateful for his leadership at a critical juncture in CHC’s history. We wish Karl and his family the very best.

“[…] we are fortunate to have Dave step in as interim CEO. He has the board’s full confidence and will ensure continuity while we conduct a thorough search for a permanent replacement.”

Fessenden was named president and CEO of CHC Helicopter and a board member of its parent company, CHC Group, in February 2015. He came to CHC from GE.

Fessenden led multiple global-service business units at GE Energy and GE Aviation. Most recently he directed GE’s integration of the Alstom power-generation business, the largest acquisition in GE’s history.

Before that, he managed GE’s $8 billion Power Generation Services unit, the largest industrial-services business at GE. His background includes 15 years in the aviation sector with GE and Pratt & Whitney.

As for Balevic, he was appointed to his current position in May 2015, coming to CHC with 26 years of progressive leadership experience at General Electric.

During his time at GE, he held roles in aviation, power generation, and oil and gas.

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