Bristow Announces New Organization Structure to Better Support Existing Business and Future Growth Efforts

Rhea-AI Summary

Bristow Group Inc. (NYSE: VTOL) has announced a new organizational structure aimed at enhancing its leadership for Government Services and Offshore Energy Services. This restructuring includes the appointment of dedicated Chief Operating Officers for each service line, ensuring focused management to drive growth and efficiency. Alan Corbett is appointed COO of Government Services, while Stuart Stavley takes on the same role for Offshore Energy Services. The changes are expected to align the company’s operations with market demands and improve service consistency. CEO Chris Bradshaw emphasized the strategy’s goal is to bolster Bristow’s long-term growth and diversification efforts.

Positive

• New organizational structure enhances focus on Government Services and Offshore Energy Services.
• Appointment of dedicated COOs expected to improve operational efficiency and growth opportunities.
• Strategic alignment of leadership with market demands supports long-term growth and diversification.

Negative

• None.

• Government Services business and Offshore Energy Services business will each be led by a dedicated Chief Operating Officer
• New structure will help Bristow respond to market and customer needs efficiently and facilitate the pursuit of the Company's growth strategy

HOUSTON, Feb. 9, 2023 /PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL) took action today to better support its existing business and future growth plans by reorganizing the Company's leadership team to align with its main service lines – Government Services and Offshore Energy Services. Given the increased scale and geographic scope of Bristow's Government Services business, the time is right to implement dedicated executive management purely focused on this important service line, with responsibility to manage existing operations as well as pursue additional growth opportunities. The new structure also provides dedicated executive management for Bristow's leading Offshore Energy Services business, which will help drive enhanced consistency and efficiency across the Company's global oil and gas operations.

"Aligning our executive leadership team around our key end markets enables us to enhance consistency and operational excellence in our existing operations, while effectively resourcing the pursuit of Bristow's growth initiatives," said Chris Bradshaw, President and CEO of Bristow. "The new structure leverages the strengths of our leadership team and better positions the Company to deliver on our long-term strategy for diversification and growth in both new and existing markets."

Under the revised structure, the following changes will be made to the executive leadership team:

• Alan Corbett will become Chief Operating Officer, Government Services responsible for overseeing all of Bristow's Government Services activity, including existing operations, new business, and emerging markets for areas such as Bristow's growing market share in the Search and Rescue (SAR) sector. Corbett will retain responsibility for Airnorth as well as the Humberside airport.
• Stuart Stavley will become Chief Operating Officer, Offshore Energy Services. Stavley will have oversight of Bristow's oil and gas operations in all the regions where the Company operates around the world. In addition, Stavley has global oversight for operational shared services, including Safety, Standards, Supply Chain, and Fleet Management functions, among others.
• Samantha Willenbacher will become Senior Vice President, Key Accounts. In this role, Willenbacher will work closely with Bristow's offshore energy customers around the world to ensure the Company is effectively meeting their current and future requirements. Willenbacher will also provide global bid support to help the Company capture new business.

The following roles remain unchanged:

• Elizabeth Matthews will continue as Senior Vice President, General Counsel, Head of Government Affairs, and Corporate Secretary responsible for legal, compliance, government affairs, and contract review and management.
• David Stepanek will continue as Executive Vice President, Chief Transformation Officer, responsible for the transformation of Bristow's business mix through strategic diversification into new markets, such as Advanced Air Mobility.
• Mary Wersebe will continue as Senior Vice President, Chief Administrative Officer responsible for human resources, benefits and compensation, communications, and corporate social responsibility.
• Jennifer Whalen will continue as Senior Vice President, Chief Financial Officer responsible for accounting, decision support, financial reporting, internal audit, investor relations, strategy and M&A, tax, and other financial functions of the Company. Whalen also oversees the Company's Information Technology department.

About Bristow Group

Bristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of major integrated, national, and independent offshore energy companies. Bristow provides commercial search and rescue (SAR) services in several countries and public sector aviation services such as SAR and other services on behalf of government entities. Additionally, the Company offers ad hoc helicopter and fixed wing transportation services. Bristow currently has customers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, the Falkland Islands, Guyana, India, Mexico, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K., and the U.S. To learn more, visit our website at www.bristowgroup.com.

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SOURCE Bristow Group

FAQ

What is the new leadership structure of Bristow Group (VTOL)?

Bristow Group has appointed dedicated Chief Operating Officers for its Government Services and Offshore Energy Services sectors to enhance operational focus and growth.

Who are the new Chief Operating Officers for Bristow Group?

Alan Corbett is the COO for Government Services, while Stuart Stavley is the COO for Offshore Energy Services.

How will the new structure benefit Bristow Group (VTOL)?

The new structure aims to improve operational efficiency, focus on market demands, and support the company's growth initiatives.

What are the main service lines of Bristow Group (VTOL)?

Bristow Group's main service lines are Government Services and Offshore Energy Services.

When was the new organizational structure for Bristow Group announced?

The new organizational structure was announced on February 9, 2023.