CHC Finalizes New Board of Managers Following Financial Restructure

By S.L. Fuller | July 17, 2017

CHC Statoil

Photo courtesy of CHC

CHC Group has finalized its board of managers, following the completion of its financial restructuring, the company said. CHC’s plan to emerge from Chapter 11 of U.S. Bankruptcy Code was approved earlier this year.

“We are pleased to establish CHC Group’s new board of managers as we move past our restructuring and into a new era of serving our customers as a streamlined, more efficient partner,” said Karl Fessenden, president and CEO of CHC Helicopter. 


The board of managers includes Fessenden and:

John T. Gremp

Gremp serves as as chairman of the board. He previously served as the chairman of FMC Technologies Inc.’s board. Gremp is a member of the board of trustees of the United Way of Greater Houston and a member of the National Petroleum Council.

Michael J. Bevacqua

Bevacqua is the managing director in the Distressed and Special Situations strategy group and the head of the Restructuring team at Bain Capital Credit.

Sten L. Gustafson

Gustafson is founder and CEO of Parliament Energy Capital LLC. He previously served as CEO and director of Era Group Inc.

Michael T. Steen

Steen is the EVP and chief commercial officer of Atlas Air Worldwide, as well as the president and CEO of Titan Aviation Holdings Inc.

John A. Crum

Crum is the managing partner of JAC Energy Partners LLC, director of Forty Acres Energy LLC and director of the American Heart Assn., Houston Division.

Michael E. Preissler

Preissler is the CFO and chief administrative officer of Air Medical Group Holdings. He has served in healthcare services for both air and ground transportation.

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