Teekay Tankers Announces Changes to Board Audit Committee

HAMILTON, Bermuda, March 16, 2018 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE:TNK) announced today the following changes to its Board Audit Committee:

  • Richard D. Paterson has been appointed as the new Chair of the Audit Committee, effective March 15, 2018.
  • William Lawes has stepped down as Audit Committee Chair, but remains on the Audit Committee and Board.

Mr. Paterson joined the Board of Directors of Teekay Tankers on August 1, 2017. He is a certified public accountant who retired from PriceWaterhouseCoopers LLP (PwC) in 2011 after 37 years of service. At the time of his retirement, Mr. Paterson served as the global leader of PwC’s Consumer, Industrial Products and Services Practices comprising the automotive, consumer and retail, energy utilities and mining, industrial products, pharmaceutical and health industry sectors.

Mr. Lawes joined the Board of Directors of Teekay Tankers in 2008. He also served as Audit Committee Chairman on the Board of Tanker Investments Ltd. from 2014 until its merger with Teekay Tankers in November 2017.

“I would like to thank Bill for chairing Teekay Tankers' Audit Committee for the past 10 years. I know he will continue to add value as a Committee and Board member,” commented Mr. Arthur Bensler, Teekay Tankers’ Chairman of the Board. “On behalf of the Board, I look forward to working closely with Rich as he steps into the Audit Committee Chair role, and continuing to benefit from his extensive financial and energy industry experience.”

About Teekay Tankers

Teekay Tankers currently owns a fleet of 52 double-hull tankers, including 26 Suezmax tankers, 17 Aframax tankers, and nine Long Range 2 (LR2) product tankers, and has four capital leased Suezmax tankers and one contracted time charter-in vessel. 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.

Teekay Tankers’ common stock trades on the New York Stock Exchange under the symbol “TNK.”

For Investor Relations
enquiries contact:

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

Source:Teekay Tankers Ltd.