Teekay Corporation Board Member Bjorn Moller Announces Retirement

Rhea-AI Summary

Teekay Corporation (TK) announced the retirement of Bjorn Moller from its Board of Directors after over 35 years with the company, including 22 years as a board member and prior service as President and CEO from 1998 to 2011. Chairman David Schellenberg recognized Moller's significant contributions, emphasizing his visionary leadership and commitment that helped position Teekay as a leader in the marine energy sector.

Teekay, a prominent provider of crude oil and gas marine transportation services, manages assets totaling approximately $12 billion.

Positive

• Bjorn Moller's extensive experience may facilitate a smooth transition and strategic continuity.

Negative

• Concerns over potential leadership vacuum following Moller's retirement could affect investor confidence.

VANCOUVER, British Columbia, June 24, 2020 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay or the Company) (NYSE:TK) today announced that Bjorn Moller is retiring from the Company’s Board of Directors, after more than 35 years of service with the Company. This included serving as a Teekay Board member for 22 years and as Teekay’s President and Chief Executive Officer from 1998 to 2011.

David Schellenberg, Teekay’s Chairman commented, “Bjorn has been an exceptional and visionary leader during his tenure as a member of Teekay’s Board of Directors and as its CEO. He has been instrumental in transforming the Company into a world leader in the marine energy industry. We are truly grateful for his enormous passion and commitment to Teekay over so many years.”

About Teekay

Teekay is a leading provider of international crude oil and gas marine transportation services and also provides offshore production and logistics. Teekay provides these services primarily through its directly-owned fleet and its controlling ownership interests in Teekay LNG Partners L.P. (NYSE:TGP), one of the world’s largest independent owners and operators of LNG carriers, and Teekay Tankers Ltd. (NYSE:TNK), one of the world’s largest owners and operators of mid-sized crude tankers. The consolidated Teekay entities manage and operate total assets under management of approximately $12 billion, comprised of approximately 140 liquefied gas, offshore, and conventional tanker assets. With offices in 10 countries and approximately 5,500 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world’s leading oil and gas companies. Teekay’s common stock is listed on the New York Stock Exchange where it trades under the symbol “TK”.  

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel:  +1 (604) 609-2963
Website:  www.teekay.com

FAQ

What impact will Bjorn Moller's retirement have on Teekay's future?

Moller's retirement might influence strategic direction, raising questions about leadership continuity.

How long did Bjorn Moller serve at Teekay?

Bjorn Moller served over 35 years at Teekay, including 22 years as a board member.

What is Teekay's primary business?

Teekay primarily provides international crude oil and gas marine transportation services.

Who is the current Chairman of Teekay Corporation?

David Schellenberg is the current Chairman of Teekay Corporation.