Business
Calfrac Announces Retirement of Co-Founder and Chief Executive Officer Douglas R. Ramsay at the end of 2013 - Fernando Aguilar Named Successor
CALGARY, May 14, 2013 /CNW/ - Calfrac Well Services Ltd. ("Calfrac" or the "Company") (TSX...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, May 14, 2013 /CNW/ - Calfrac Well Services Ltd. (\"Calfrac\" or the \"Company\") (TSX-CFW) announced today that Doug Ramsay, Co-Founder and Chief Executive\n Officer, intends to retire from the office of Chief Executive at the\n end of 2013.  As part of a planned leadership succession process, the\n Board of Directors intends to appoint Fernando Aguilar, Calfrac's\n current President and Chief Operating Officer, to succeed Mr. Ramsay as\n President and Chief Executive Officer of the Company, on or about\n January 1, 2014.  Mr. Ramsay is expected to become the Vice Chairman of\n the Company and to remain a member of the Board of Directors.  Mr.\n Ramsay's continued responsibilities will include support work with\n senior executives, shareholder and customer relations, public and\n regulatory issues and various corporate initiatives.\n\n\nDoug began his oil and gas career in 1973 as an equipment operator with\n BJ Well Services.  He went on to positions of drilling and completions\n manager, oilfield consultant and wellsite foreman for Dome Petroleum. \n He served as President of Canadian Fracmaster Limited until 1994, where\n he spent 12 years enhancing that corporation's worldwide presence.  In\n 1999, Doug went on to co-found Calfrac Well Services Ltd.\n\n\nRon Mathison, Chairman of the Board, stated, \"The Board of Directors is\n truly appreciative of Doug's leadership of Calfrac as one of its\n founders and CEO from its inception and through its 14 year history. \n Doug has led the development and growth of Calfrac Well Services into\n one of the most successful enterprises in the well servicing industry\n with a core strategy of building strong local operating capability\n supported by a lean, entrepreneurial corporate structure.  Doug has\n guided the company through an incredible period of change and growth\n and has done so with utmost integrity and a sharp focus on creating\n value for our customers, shareholders and employees.\"\n\n\nMr. Mathison continued, \"The Board takes its responsibilities regarding\n CEO succession very seriously and Doug along with Gordon Dibb, another\n co-founder of the Company, did a superb job in working closely with the\n Board to identify and prepare Fernando Aguilar as Gordon's successor as\n COO and now as Doug's successor as C...