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CHC Group Names Interim Chief Financial Officer

Friday, October 6, 2017


IRVING, TX – CHC Group today announced that chief financial officer (CFO) Lee Eckert is leaving the Company to become CFO at Flowserve. Effective immediately, Scott Thanisch will assume the role of interim CFO, reporting to Karl Fessenden, CHC’s president and chief executive officer (CEO).

Thanisch has led CHC’s treasury and financial, planning and analysis functions since the end of fiscal year 2016, including throughout the Company’s restructuring and emergence. Prior to joining CHC, Thanisch held progressive leadership positions in finance, treasury and corporate development with companies including PLH Group, Dell and Sabre. He holds an M.B.A. from Southern Methodist University and a B.B.A. in Accounting from the University of Texas.

"Lee played a critical role in the successful completion of our Chapter 11 reorganization and helped improve our financial strength,” Fessenden said. “On behalf of the CHC Board of Managers and our management team, we thank Lee for his financial leadership and contributions to CHC. We wish Lee and his family the very best as he embarks on a new chapter in his career.”

"At the same time, we are pleased Scott has agreed to serve as interim CFO during this important time,” added Fessenden. "Scott’s in-depth knowledge of our business will ensure a smooth transition. We have built a strong Finance team that will continue to drive our disciplined approach to capital management and further improve our cost structure."

As part of CHC’s ongoing efforts to create a leaner, more efficient organization, Geoff Kellogg, a twelve-year CHC veteran, has been appointed vice president of financial support services, which consolidates the tax, accounting and shared service functions. Previously head of tax, Kellogg has been CHC’s acting accounting leader following Melanie Kerr’s decision to leave CHC to work for the City of Vancouver.

Since joining CHC in tax in 2005, Kellogg has been instrumental in CHC’s initial public offering, private equity investments, and the Company’s financial restructuring. Over the course of his career, he has held numerous roles in tax, accounting and internal audit. Geoff is a Chartered Professional Accountant (CPA, Canada) and holds a B.A. in Business Administration from Simon Fraser University in Vancouver.  

Doug Brown remains CHC’s corporate controller. Brown joined the Company in 2013, and has played an important role in CHC’s external reporting and accounting policy decisions, including CHC’s initial public offering, annual and quarterly SEC filings, corporate restructuring and fresh start accounting. Brown has more than 17 years of experience as a chartered accountant with extensive industry and technical knowledge. Brown holds a B.A. in Accounting and Finance, and is a Chartered Accountant with the Institute of Chartered Accountants of Scotland and the Institute of Chartered Accountants of British Columbia.

For 70 years, CHC Helicopter has provided safe, reliable, cost-effective helicopter service in some of the most remote and challenging environments around the world. With extensive experience transporting customers in the oil and gas industry, supporting search-and-rescue and EMS contracts, and providing maintenance, repair and overhaul services, our dedication to safety and reputation for quality and innovation help our customers reach beyond what they thought possible. Visit www.chcheli.com for information.

Susan Gordon, +
Senior Director, Global Communications

Cautionary Note on Forward-Looking Statements
This press release and other statements that we may make contain forward-looking statements. Forward-looking statements are statements that are not historical facts and include statements about our future financial condition and future business plans and expectations. Such forward-looking statements are based upon the current beliefs and expectations of our management, but are subject to risks and uncertainties, which could cause actual results and/or the timing of events to differ materially from those set forth in the forward-looking statements. The forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.