Teekay announces senior management change

Source: press release, 2 November 2022

photo: Teekay Group
photo: Teekay Group

Teekay Corporation has announced Vince Lok’s retirement as Teekay’s Executive Vice President and Chief Financial Officer effective 1 January 2023, after nearly 30 years with the company, including the past 16 years as Teekay’s Group CFO.

Upon Lok’s retirement, Brody Speers, Vice President, Finance & Treasurer, will be assuming Vince Lok’s responsibilities, along with continuing to oversee Teekay’s Finance, Accounting and Tax teams. Lok has agreed to stay on as an advisor through the end of 2023 to help ensure a smooth transition as well as support the Company’s strategic initiatives.

Kenneth Hvid, Teekay’s President and Chief Executive Officer says, “Over the past 30 years, Vince has played an instrumental role in the evolution of the Teekay Group. Personally, it has been a real privilege to have worked with Vince for more than two decades. He has been a great CFO, colleague, and friend whose professionalism and care for Teekay, and all our stakeholders, has been a beacon through both our growth and our simplification years. We have focused on talent management and succession planning over many years, and I am confident that Brody Speers is the natural choice for the role and will ensure that we have a seamless transfer of responsibilities.”

Hvid adds, “Although we will all miss Vince’s insights and leadership, I respect his priorities and we are pleased that Vince will be available as an advisor as we look for growth opportunities and continue to create shareholder value from our strong position.”

Vince Lok comments, “With Teekay now in a solid financial position and well-positioned to benefit from the strong tanker market fundamentals, now feels like the logical time to retire as the Company embarks on the next phase of its strategy.”

Lok adds, “It has been a tremendous honor and privilege to be part of Teekay’s journey and to have had the opportunity to work with a world-class team over my 30 years with the Company. I look forward to staying involved with Teekay as an advisor as well as spending more time with my family and other priorities.”