Teekay boss to retire after 13 years of service. New CEO elected

Teekay Corporation has elected new President and Chief Executive Officer of the company as its current one decided to retire from the company and the board of directors after more than 13 years of service.

Teekay said on Thursday that Peter Evensen, the current CEO of the corporation, plans to retire effective January 31, 2017.

The company has appointed Kenneth Hvid, currently serving as the President and CEO of Teekay Offshore Group, as the CEO-elect to succeed Evensen.

Evensen, who became CEO in 2011, will retire from all positions within the corporation, namely CEO and CFO of Teekay LNG and Teekay Offshore Partners as well as from his board positions at Teekay, Teekay LNG, Teekay Offshore Partners, and Teekay Tankers.

Ingvild Sæther will be appointed President and CEO of Teekay Offshore Group in place of Hvid and Mark Kremin will be appointed President and CEO of Teekay Gas Group.

As part of the transition process, Evensen will stay on as an advisor following his retirement.

Evensen said: “It has been an honor and privilege to lead this company, and I am very confident that Kenneth Hvid is the right person to be my successor to lead Teekay into the next phase of its strategy.

Sean Day, Teekay’s Chairman, said: “In Peter’s many leadership positions at Teekay, he has brought dynamism and strategic thinking that has enabled Teekay to expand and grow into the company that it is today.

“He was the architect of our innovative daughter company structure that provided a low-cost source of capital. Kenneth Hvid is the natural successor to Peter Evensen as CEO of Teekay at this time. He has had multiple roles in his 16 years at Teekay, including leadership positions in offshore, LNG, tankers, strategy, and operations.”

The newly appointed CEO, Hvid, said: “I am excited and honored to take on this role. I would like to thank the board of directors for their confidence in entrusting the leadership of Teekay to me following Peter’s retirement.”

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