2019 March 15 15:24
Teekay Tankers Ltd. (Teekay Tankers or the Company) announced today the following changes to its Board of Directors:
William (“Bill”) Lawes, Director, retired from the Board effective March 13, 2019, after more than 11 years with the Company’s Board.
Bjorn Moller, Director, and Richard (“Dick”) J.F. Bronks, Director, are not standing for re-election at the Company’s Annual General Meeting (AGM) on June 12, 2019 and will be retiring from the Board effective the date of the AGM, after almost 12 years with the Company’s Board. Mr. Moller will remain a Director of Teekay Corporation (Teekay).
In addition, David Schellenberg, Director of Teekay, has been nominated to stand for election to join the Teekay Tankers Board effective at the Company’s AGM on June 12, 2019.
With these changes, the Company will be reducing the size of its Board of Directors from seven members currently to five members.
About Teekay Tankers
Teekay Tankers currently owns a fleet of 42 double-hull tankers, including 25 Suezmax tankers, nine Aframax tankers, and eight Long Range 2 (LR2) product tankers, and has five Suezmax tankers, eight Aframax tankers and one LR2 product tanker related to capital leases and eight contracted time charter-in vessels. Teekay Tankers’ vessels are employed through a mix of short- or medium-term fixed rate time charter contracts and spot tanker market trading. The Company also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business.