HOUSTON, Feb. 3, 2014 /PRNewswire/ -- Bristow Group Inc. (NYSE: BRS), the leading provider of helicopter services to the offshore energy industry, today announced that William E. Chiles, President and Chief Executive Officer, will retire from those positions at the Company's Annual Meeting of Shareholders on July 31, 2014, and be succeeded by Jonathan E. Baliff, Bristow's Senior Vice President and Chief Financial Officer.
Following the Annual Meeting, Mr. Chiles will also step down from the Board of Directors. He will remain an employee of Bristow Group in a consulting role through July 31, 2016. It is anticipated that Mr. Baliff will be nominated for election to the Board at the Annual Meeting.
"We are thrilled that Jonathan will lead Bristow as the Company's next President and CEO," said Tom Knudson, Bristow Group Chairman. "Jonathan is an experienced executive with a unique combination of critical attributes that make him an excellent choice to continue our drive for success. He has a proven track record of execution, clear strategic vision and global insight, unmatched financial acumen, and an understanding of aviation safety, the international marketplace and our customer base. He has the utmost integrity and is highly regarded by investors, customers and employees. Over the past year, the Board has thoroughly evaluated several highly qualified candidates, all of whom possessed many of the skills we were looking for in a CEO. We are confident Jonathan will work well with the rest of our extremely talented senior management team to execute our strategic plans and drive continued growth when Bill steps down.
"On behalf of the Board, I would like to thank Bill for his superb stewardship of Bristow over the past decade. His leadership has been instrumental in setting a very strong 'tone at the top', producing excellent performance, creating a collaborative culture, and making Bristow the safe, ethical, and strong company it is today."
"I am honored to have been selected to serve as CEO of Bristow," said Mr. Baliff. "I have had the good fortune to work very closely with Bill over these last few years and appreciate the profound impact he has had on Bristow, including establishing an unwavering commitment to safety, operational excellence and financial strength. Bristow has an exceptionally strong senior leadership and employee team – all of whom are committed to our enduring core values. I am fortunate to have my colleagues to collaborate with as we pursue our mission to provide the safest and most efficient helicopter services and aviation support worldwide. I know they share my belief that if we do what we do best – be innovative partners to our clients, continue our thoughtful expansion across the globe and provide career development opportunities for our employees – we can continue to be the industry leader for years to come."
"My experience as Bristow's CEO has been very fulfilling and I'm extremely proud of all we have accomplished," said Mr. Chiles. "Jonathan is a hands-on leader with a commitment to excellence, and I am confident he will build successfully on the platform we have all worked to create. I have seen firsthand what he is capable of and I am confident that in handing the reins over to Jonathan, Bristow will be in excellent hands for the future."
Mr. Baliff, 50, joined Bristow as Senior Vice President and Chief Financial Officer in 2010. At Bristow, as part of the Senior Management Team, he led teams that created and executed the successful "Bristow Value Added" implementation throughout the company, a transformation of the company's capital allocation strategy. Mr. Baliff was also part of the team that led the successful effort to win the ten bases, £1.5 billion UK Search and Rescue contract. At NRG Energy Inc., where he served as Executive Vice President, Strategy, Mr. Baliff led the development and implementation of NRG's corporate strategy as well as its efforts to drive top-line growth through acquisitions and business alliances. Before joining NRG in 2008, he spent 12 years with Credit Suisse, most recently as Managing Director for the Global Energy Group. Mr. Baliff began his career serving on active duty as an aviator in the U.S. Air Force for eight years from 1985 to 1993. He holds a Bachelor of Science degree in Aerospace Engineering from Georgia Tech and a Master of Science in Foreign Service from Georgetown University.
Bristow Group will initiate a search process to fill the Chief Financial Officer position and will be considering both internal and external candidates. Mr. Baliff will continue to serve in this capacity until he assumes the role of President and CEO at the Annual Meeting.
Management will conduct a conference call starting at 9:00 a.m. ET (8:00 a.m. CT) on Monday, February 3, 2014 to discuss today's announcement. The conference call can be accessed as follows:
- Visit Bristow Group's investor relations Web page at www.bristowgroup.com
- Live: Click on the link for "Management Announcement"
- Replay: A replay via webcast will be available approximately one hour after the call's completion and will be accessible for approximately 90 days
Via Telephone within the U.S.:
- Live: Dial toll free 1-877-941-9205
- Replay: A telephone replay will be available through February 17 and may be accessed by calling toll free 1-800-406-7325, passcode: 4667305#
Via Telephone outside the U.S.:
- Live: Dial 1-480-629-9771
- A telephone replay will be available through February 17 and may be accessed by calling 1-303-590-3030, passcode: 4667305#
ABOUT BRISTOW GROUP INC. Bristow Group Inc. is the leading provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated and one of two helicopter service providers to the offshore energy industry with global operations. The Company has major transportation operations in the North Sea, Nigeria and the U.S. Gulf of Mexico, and in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Russia and Trinidad. For more information, visit the Company's website at www.bristowgroup.com.
SOURCE Bristow Group Inc.