Civeo Appoints Andrew S. Fraser as President, Canada

Rhea-AI Summary

Civeo has appointed Andrew S. Fraser as President, Canada, effective August 19, 2024. Fraser succeeds Al Schoening, who is retiring after a 13-year tenure with the company. Schoening will assist in the transition and remain a consultant post-retirement. Fraser brings extensive executive experience, having held CEO positions at NCSG Crane and Heavy Haul and Camex Equipment Sales and Rentals. He also spent 30 years at Finning International in various executive roles. Fraser is expected to leverage his Canadian, U.S., and international market experience to drive growth and enhance Civeo’s offerings. Civeo is a leading provider of hospitality services in the Canadian oil sands and Australian natural resource regions, operating 24 lodges and villages with approximately 26,000 rooms.

Positive

• Appointment of Andrew S. Fraser as President, Canada could bring fresh perspectives and strategies.
• Fraser's extensive experience in Canadian, U.S., and international markets is likely beneficial for growth.
• Smooth transition expected with Al Schoening assisting in the process and remaining as a consultant.

Negative

• Potential concerns about continuity and experience gaps with the retirement of Al Schoening after 13 years.

Fraser brings extensive U.S., Canadian and international executive management experience

Al Schoening to retire after 13-year career at Civeo

HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)-- Civeo Corporation (“Civeo” or the “Company”) (NYSE:CVEO) today announced the appointment of Andrew “Andy” S. Fraser, a dynamic and experienced leader, as President, Canada, effective August 19, 2024. He succeeds Al Schoening, Senior Vice President, Canada, who will retire after serving 13 years at Civeo. Mr. Schoening will work closely with Mr. Fraser to ensure a smooth transition and is expected to remain a consultant for the Company for a period after his retirement.

Mr. Fraser brings extensive international executive management experience in sales, marketing, operations and customer relations to Civeo. He most recently served as CEO and Executive Chair of the Board of Directors of NCSG Crane and Heavy Haul, and prior to that was CEO of Camex Equipment Sales and Rentals. Additionally, during his 30 years with Finning International, he held a variety of executive roles across the company’s Canadian and International operations. Mr. Fraser also has served as director on a number of boards across energy, manufacturing and distribution, and is currently serving on the boards of ATB Financial and Aquatera Utilities.

“I am pleased to welcome Andy to the Civeo leadership team,” said Bradley J. Dodson, President and Chief Executive Officer of Civeo. “His deep experience in the Canadian market, in addition to the broad experience in U.S. and international markets, will be highly beneficial to all our stakeholders as we evaluate investments in growth opportunities and enhance our offerings. I also would like to express my deep gratitude to Al for his unwavering commitment over the past decade to Civeo’s Canada business successfully managing through the pandemic and repositioning the business for the next decade.”

About Civeo

Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently operates a total of 24 lodges and villages in Canada, Australia and the U.S., with an aggregate of approximately 26,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo's website at www.civeo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240702343724/en/

Regan Nielsen

Civeo Corporation

Vice President, Corporate Development & Investor Relations

713-510-2400

Source: Civeo Corporation

FAQ

When will Andrew S. Fraser start as President, Canada for Civeo?

Andrew S. Fraser will start as President, Canada for Civeo on August 19, 2024.

What is the stock symbol for Civeo?

The stock symbol for Civeo is CVEO.

Who is Andrew S. Fraser replacing as President, Canada at Civeo?

Andrew S. Fraser is replacing Al Schoening, who is retiring after 13 years.

What experience does Andrew S. Fraser bring to Civeo?

Andrew S. Fraser brings extensive executive management experience in sales, marketing, operations, and customer relations, having served as CEO of NCSG Crane and Heavy Haul and Camex Equipment Sales and Rentals, and held various executive roles at Finning International.

How many lodges and villages does Civeo operate?

Civeo operates 24 lodges and villages with approximately 26,000 rooms.

What industries does Civeo serve?

Civeo serves the Canadian oil sands and Australian natural resource regions.

What roles did Andrew S. Fraser previously hold at Finning International?

Andrew S. Fraser held a variety of executive roles across Finning International’s Canadian and international operations.

Who will help with the transition after Al Schoening retires?

Al Schoening will work closely with Andrew S. Fraser to ensure a smooth transition and will remain a consultant for a period after his retirement.