25-Jul-2019 Source: CHC
CHC Group today announced that President and Chief Executive Officer CEO) Karl Fessenden has resigned to accept an opportunity outside of the oil and gas industry effective August 2. Dave Balevic, Senior Vice President of Engineering & Operations, will assume the role of interim CEO. The Board has begun a search for Mr. Fessenden’s successor.
“This was a difficult decision that I reached after much reflection. It has been a privilege working shoulder-to-shoulder with the best team in the business. I am proud of all we have accomplished together. I want to thank the team and the Board of Managers for their support,” said Karl Fessenden. “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,” said Karl Fessenden.
John Gremp, Chairman of CHC Board of Managers said, “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 have made great strategic and operational progress under his leadership. We wish Karl and his family the very best.” Mr. Gremp also said, “Karl has assembled a talented and highly capable leadership team, and 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.”
Balevic was appointed senior vice president, Engineering & Operations 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 & gas. Balevic holds a master’s degree in aerospace engineering from the University of Cincinnati and a bachelor’s degree in mechanical engineering from Clarkson University.