Civeo Corporation Announces Appointment of Jay Grewal and Michael Montelongo to its Board
21 Julho 2021 - 8:30AM
Business Wire
Civeo Corporation (NYSE:CVEO) announced today that its Board of
Directors elected Jay Grewal and Michael Montelongo as members of
its Board of Directors effective August 15, 2021. Ms. Grewal has
been appointed as a Class III Director with an initial term
expiring in May 2023 and will serve on the Company’s Audit
Committee and Finance and Investment Committee. Mr. Montelongo has
been appointed as a Class I Director with an initial term expiring
in May 2024 and will serve on the Company’s Compensation Committee
and Nominating and Corporate Governance Committee. Prior to August
15, 2021, Ms. Grewal and Mr. Montelongo will serve as observers at
meetings of the Board.
“On behalf of our Board of Directors, I’m very pleased to
welcome Jay and Michael to Civeo. Jay brings decades of financial
and executive leadership experience as well as significant
experience in the energy and power industry in North America to our
Board and Audit Committee. Her experience and input will be
integral as we manage and grow our Canadian business. Michael
brings his experience in the managed services industry as well as
his expertise in governance. Michael’s experience will be valuable
as we look to expand our managed services business as well as
further our ESG efforts," said Richard A. Navarre, Civeo’s Chairman
of the Board.
About Jay Grewal
Ms. Grewal has served as President and Chief Executive Officer
(CEO) of Manitoba Hydro, one of the largest integrated electric and
natural gas utilities in Canada, since February 2019. Jay is a
proven leader with over 26 years of leadership and corporate
management experience including at executive levels in the utility,
resource, finance and consulting sectors. She joined Manitoba Hydro
from the Northwest Territories Power Corporation where she held the
position of President and CEO from June 2017 to February 2019.
Before then, Jay held senior executive roles with Capstone Mining
Corp, Accenture, Inc., BC Hydro, and CIBC World Markets. Jay earned
both a B.A. (honors) from the University of British Columbia as
well as an M.B.A., finance from the Richard Ivey School of
Business, University of Western Ontario. Jay sits on the board of a
number of industry associations. In 2019 she was named as one of
the Women of the Year by Chatelaine Magazine.
About Michael Montelongo
Mr. Montelongo has served as President and Chief Executive
Officer of GRC Advisory Services, LLC, a board governance firm,
since July 2016, and was previously Chief Administrative Officer
and Senior Vice President, Public Policy and Corporate Affairs for
Sodexo, Inc., a facilities and hospitality outsourcing solutions
enterprise, from January 2008 to July 2016. He is a former George
W. Bush White House appointee serving as the 19th Assistant
Secretary for Financial Management and Chief Financial Officer of
the U.S. Air Force from August 2001 to March 2005. Mr. Montelongo
is a lifetime member of the Council on Foreign Relations and was an
executive with a global management consulting firm and a regional
telecommunications company. He completed a career in the U.S. Army
that included line and staff assignments, a Congressional
Fellowship in the U.S. Senate and service as an assistant professor
teaching economics and political science at West Point. Mr.
Montelongo also serves on the board of Conduent Incorporated
(NASDAQ: CNDT), a business process outsourcing company, and
privately-held Larry H. Miller Management Corporation. He earned
his B.S. from West Point and an M.B.A. from Harvard Business
School.
About Civeo
Civeo Corporation is a leading provider of hospitality services
with prominent market positions in the Canadian oil sands and the
Australian natural resource regions. Civeo offers comprehensive
solutions for lodging hundreds or thousands of workers with its
long-term and temporary accommodations and provides food services,
housekeeping, facility management, laundry, water and wastewater
treatment, power generation, communications systems, security and
logistics services. Civeo currently operates a total of 28 lodges
and villages in Canada, Australia and the U.S., with an aggregate
of approximately 30,000 rooms. Civeo is publicly traded under the
symbol CVEO on the New York Stock Exchange. For more information,
please visit Civeo's website at www.civeo.com.
Forward Looking Statements
This news release contains forward-looking statements within the
meaning of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements are
those that do not state historical facts and are, therefore,
inherently subject to risks and uncertainties. The forward-looking
statements herein include the statements regarding Civeo’s future
plans and outlook, are based on then current expectations and
entail various risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
these forward-looking statements. Such risks and uncertainties
include, among other things, risks associated with global health
concerns and pandemics, including the COVID-19 pandemic and the
risk that room occupancy may decline if our customers are limited
or restricted in the availability of personnel who may become ill
or be subjected to quarantine, risks associated with the general
nature of the accommodations industry, risks associated with the
level of supply and demand for oil, coal, iron ore and other
minerals, including the level of activity, spending and
developments in the Canadian oil sands, the level of demand for
coal and other natural resources from, and investments and
opportunities in, Australia, and fluctuations or sharp declines in
the current and future prices of oil, natural gas, coal, iron ore
and other minerals, risks associated with failure by our customers
to reach positive final investment decisions on, or otherwise not
complete, projects with respect to which we have been awarded
contracts, which may cause those customers to terminate or postpone
contracts, risks associated with currency exchange rates, risks
associated with the company’s ability to integrate acquisitions,
risks associated with labor shortages, risks associated with the
development of new projects, including whether such projects will
continue in the future, risks associated with the trading price of
the company’s common shares, availability and cost of capital,
risks associated with general global economic conditions, global
weather conditions, natural disasters and security threats and
changes to government and environmental regulations, including
climate change, and other factors discussed in the “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” and “Risk Factors” sections of Civeo’s annual report on
Form 10-K for the year ended December 31, 2020 and other reports
the company may file from time to time with the U.S. Securities and
Exchange Commission. Each forward-looking statement contained
herein speaks only as of the date of this release. Except as
required by law, Civeo expressly disclaims any intention or
obligation to revise or update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210721005318/en/
Carolyn J. Stone Civeo Corporation Senior Vice President &
Chief Financial Officer 713-510-2400
Civeo (NYSE:CVEO)
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