CHC Group announced July 17th, that the company had finalized its management board appointments after completing its financial restructuring earlier this year.
CHC Group announced July 17th that the company had completed one of the final steps in the company’s restructuring efforts, announcing the company’s final management board. CHC made several appointment changes as the company moves forward to continue what has been a speedy rise back into the fold as a newer, asset light organization that has seen almost immediate success gaining several new contracts and renewals post restructuring.
“We’re are pleased to establish CHC Group’s new Board of Managers as we move past our restructuring and into a new era of serving our customers as a streamlined, more efficient partner,” said Karl Fessenden, President and CEO of CHC Helicopter. “The leadership we have in place has decades of expertise in the aviation, energy and other related sectors and will provide valuable insights and perspectives as we continue to best align our business to the needs of our global customers and partners. I also want to thank Robert Del Genio, co-founder of CDG Group, and James F. Wilson, who both have resigned their board positions. I can speak for everyone at CHC Group when I say we are grateful for their service and support while holding these positions.”
The Company’s updated seven-member board was announced in a press release sent out early this morning that detailed the removal of two of the previous board members and the addition of two new board members that CHC believes will help them continue to grow post restructuring efforts. The board members of CHC now include the following members.
John T. Gremp (Chairman of the Board)
Mr. Gremp will serve as CHC Group’s Chairman of the board. He has previously served as the Chairman of the Board of FMC Technologies, Inc. since November 2011, as well as its President and Chief Executive Officer from March 2011 until May 2016. He previously held other leadership positions within FMC Technologies, including various plant, operations and regional manager positions since joining the company as a Financial Analyst in 1975. In addition to serving as a director of FMC Technologies, Mr. Gremp also served on the Boards of Directors of Joy Global Inc., the Petroleum Equipment & Services Association, the American Petroleum Institute and the Offshore Technology Conference. He is a member of the Board of Trustees of the United Way of Greater Houston and a member of the National Petroleum Council.
Karl S. Fessenden (President and Chief Executive Officer, CHC Helicopter)
Mr. Fessenden has been president and chief executive officer of CHC Helicopter and a board member of its former parent company, CHC Group Ltd., since February 2015. He joined CHC after more than 20 years at General Electric (GE), where he amassed a track record of strong leadership in building industrial- services businesses, as well as process discipline around resource and capital allocation. Mr. Fessenden successfully led multiple global-service business units at GE Energy and GE Aviation. Most recently he directed GE’s integration of the Alstom power-generation business, the largest acquisition in GE’s history. Prior to that, Mr. Fessenden managed GE’s $8 billion Power Generation Services unit, the largest industrial-services business at GE. His background includes 15 years in the aviation sector with GE and Pratt & Whitney.
Michael J. Bevacqua (Managing Director, Bain Capital Credit)
Mr. Bevacqua joined Bain Capital Credit in 1999. He is a Managing Director in the Distressed and Special Situations strategy group and the head of the Restructuring team. Prior to his current role with Bain Capital, he was responsible for investments in the Automotive, Building Products, Transportation, Equipment Rental, Waste Services and Aerospace & Defense sectors. Previously, Mr. Bevacqua was a Vice President at First Union Capital Markets where he worked in the Asset Securitization Group. Mr. Bevacqua was also an Associate in Corporate Finance at NationsBanc Capital Markets and spent four years as an officer in the United States Marine Corps. Mr. Bevacqua received an M.B.A. from Pennsylvania State University and a B.S. from Ithaca College.
Sten L. Gustafson (Founder and CEO, Parliament Energy Capital, LLC)
Mr. Gustafson currently serves as Founder and CEO of Parliament Energy Capital LLC, an oilfield equipment leasing company. Previously, Mr. Gustafson served as CEO and Director of Houston-based Era Group Inc. from 2012 through 2014, and as a Managing Director and the Head of the Energy Group, Americas for Deutsche Bank from 2009-2012. Mr. Gustafson has additionally worked for UBS, Morgan Stanley, Lehman Brothers and Simmons & Company, as well as the international law firms of Cleary, Gottlieb, Steen & Hamilton, and Baker Botts L.L.P. Mr. Gustafson holds a B.A. from Rice University and a J.D. magna cum laude from the University of Houston Law Center.
Michael T. Steen (Executive Vice President and Chief Commercial Officer, Atlas Air Worldwide; President and Chief Executive Officer, Titan Aviation Holdings, Inc.)
Mr. Steen joined Atlas Air Worldwide in April 2007 and was appointed Executive Vice President in 2010. Additionally, Mr. Steen is President and Chief Executive Officer of Titan Aviation Holdings, Inc., a wholly owned dry-leasing subsidiary of Atlas Air Worldwide Holdings, Inc., and serves on the Cargo Committee of the International Air Transportation Association. Previously, Mr. Steen served in global leadership roles for companies such as DHL, Exel Plc and KLM Royal Dutch Airlines. He also served as a Board Member of The International Air Cargo Association (TIACA) from 2008-2015, serving as TIACA’s Chairman from 2010-2013. He earned a degree in economics in Gotenburg Sweden and is an alumnus of the Advanced Executive Program at the Kellogg School of Management at Northwestern University.
John A. Crum (Managing partner of JAC Energy Partners, LLC; Director of Forty Acres Energy, LLC, and of the American Heart Association, Houston Division)
Mr. Crum is managing partner of JAC Energy Partners, LLC, and currently serves as a director of Forty Acres Energy, LLC, and of the American Heart Association, Houston Division. Previously, he served as president, chief executive officer and director of Midstates Petroleum Company Inc. and a variety of executive roles for Apache Corporation. Mr. Crum has served on the boards of Midcoast Holdings, LLC, Coskata Inc., as well as industry groups including the Australian Petroleum Production and Exploration Association (APPEA), UK Offshore Operators Association (UKOOA), and Canadian Association of Petroleum Producers (CAPP). Mr. Crum has also held positions of responsibility for several independent exploration and production companies including Aquila Energy Corporation, Pacific Enterprises Oil Company, Southland Royalty Company, and Conoco. He holds a Bachelor of Science degree in petroleum engineering from the New Mexico Institute of Mining and Technology.
Michael E. Preissler (Chief Financial Officer and Chief Administrative Officer of Air Medical Group Holdings)
Mr. Preissler is currently the Chief Financial Officer and Chief Administrative Officer of Air Medical Group Holdings (AMGH). As part of AMGH, he has served in healthcare services for both air and ground transportation, responsible for all aspects of Finance, Accounting, Billing & Collections/Revenue Cycle, Government Affairs, Information Technology, Employee Benefits, Supply Chain, and Insurance/Risk Management. Prior to joining AMGH, Mr. Preissler was the Director of Finance for Brand Energy & Infrastructure Services, and also held a variety of management positions at Delta Air Lines, including Corporate Finance and Strategy, Operational Performance and Planning, and Route Network Planning. Mr. Preissler was previously a C.P.A. in the Audit & Assurance service of Deloitte. Mr. Preissler holds a degree in Accounting with a second major in Sociology from the University of Notre Dame, and earned his MBA from the Yale School of Management with an emphasis in Finance. He is a licensed fixed wing pilot for leisure purposes.