Husky Energy Announces CEO Asim Ghosh Transition Plan and Retirement

CALGARY, AB--(Marketwired - October 26, 2016) - Husky Energy (TSX: HSE) today announced that President and CEO Asim Ghosh will be retiring effective December 5, 2016. Ghosh will remain on the Board of Directors.

"For the past seven years Asim has brought his extensive business experience and tremendous leadership abilities to bear in reshaping and positioning Husky for a new energy era," said Board Co-Chairmen Victor Li and Canning Fok.

"His work to rejuvenate Husky and strengthen the balance sheet has placed the Company on an exceptionally strong financial footing. His disciplined focus on delivery and strategic clarity continues to produce significant results. We deeply appreciate his commitment and his broader contributions to the industry and the community."

Rob Peabody, Husky's Chief Operating Officer since 2006, has been appointed President and CEO and will join the Board of Directors effective December 5, 2016.

"Rob's proven business acumen and track record of execution will guide Husky in its next phase of growth," added the
Co-Chairs.

Peabody started his career in Canada and has worked internationally with leadership roles in every segment of the business, including senior positions in exploration and production, Midstream and Downstream.

"As a result of our ongoing efforts to lower our costs, increase our productivity and with our strong foundation and resilient portfolio, we are confident that we are well positioned to further grow our higher quality production," said Peabody.

Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, Canada and its shares are publicly traded on the Toronto Stock Exchange under the symbols HSE. More information is available at www.huskyenergy.com