Teekay Tankers Ltd.
NYSE : TNK

August 01, 2017 16:56 ET

Teekay Tankers Announces Appointment of Additional Director to Board of Directors

HAMILTON, BERMUDA--(Marketwired - Aug. 1, 2017) - Teekay Tankers Ltd. (NYSE:TNK) (Teekay Tankers) announced today that Mr. Richard D. Paterson has accepted an invitation to join Teekay Tankers' Board of Directors and its Audit Committee, effective August 1, 2017.

Mr. Paterson is a certified public accountant who retired from PriceWaterhouseCoopers LLP (PwC) in 2011 after 37 years of service. At the time of his retirement, Mr. Paterson served as the global leader of PwC's Consumer, Industrial Products and Services Practices comprising the automotive, consumer and retail, energy utilities and mining, industrial products, pharmaceutical and health industry sectors. Mr. Paterson also served as Managing Partner of PwC's Houston Office and U.S. Energy Practice. As part of this role, Mr. Paterson oversaw the audits of ExxonMobil Corporation from 2002 to 2006. Previous to this position, Mr. Paterson lived in Moscow, Russia where he led PwC's Energy Practice for Europe, Middle East and Asia and also managed the audit processes of OAO Gazprom.

Mr. Paterson is a member of the National Association of Corporate Directors and serves on the boards of Parker Drilling Company, Eclipse Resources Corporation and Saipem Canada Inc. He is a past board member of Zaff GP LLC, the U.S./Russia Business Council and the U.S. Energy Association. Mr. Paterson recently stepped down from the Board and Chairmanship of the Audit Committee of Tidewater, the leading offshore vessel service provider to the oil and gas industry.

"Richard has spent his career advising and supporting large companies, especially in the energy industry. His global perspective and deep financial background will make him an invaluable member of Teekay Tankers' Board of Directors and its Audit Committee," commented Mr. Art Bensler, Chairman of Teekay Tankers' Board of Directors. "We are very pleased to have Richard join our Board and we look forward to working with him in the years ahead."

About Teekay Tankers

Teekay Tankers currently owns a fleet of 40 double-hull tankers, including 20 Suezmax tankers, 13 Aframax tankers, and seven Long Range 2 (LR2) product tankers, and has three contracted time charter-in vessels. Teekay Tankers' vessels are employed through a mix of short- or medium-term fixed rate time charter contracts and spot tanker market trading. The Company also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business and a minority interest of over 11 percent in Tanker Investments Ltd. (OSE: TIL), which currently owns a fleet of 18 modern tankers. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business.

Teekay Tankers' common stock trades on the New York Stock Exchange under the symbol "TNK."

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