Pason Names Marcel Kessler President and CEO

CALGARY, Sept. 6, 2011 /CNW/ - Pason Systems Inc.'s Board of Directors today announced, as envisioned by the Company's management succession plan, the appointment of Marcel Kessler as President and Chief Executive Officer.  Marcel will succeed James D. Hill, who will remain Chairman of the Board of Directors. The appointment will take effect on December 1, 2011.

Marcel is an experienced and talented executive with a unique blend of management and leadership experience. As a Partner with McKinsey and Company, he worked directly with CEO's and the top team of various companies on longer term engagements ranging from organizational transformation to post merger management. Subsequent to his distinguished career with McKinsey, Marcel joined CCR Technologies where, in a very short time, he was appointed as President and Chief Executive Officer. More recently, Marcel was President, North America with Exploration Logistics Group.

"This transition is a natural and regular occurrence as companies grow from a startup to a mature entity that still has plans for growth. I am excited to have Marcel with us at Pason and look forward to working with him as we continue to build our company", said Jim Hill, founder and current Chairman, President and CEO.

Marcel's appointment followed an extensive search within and outside the service company sector of the energy industry with the assistance of Egon Zehnder International, a leading global executive search firm.

Pason Systems Inc.
Pason Systems Inc. is a leading provider of instrumentation systems to land-based and offshore drilling rigs worldwide. The company's rental solutions, which include data acquisition, wellsite reporting, remote communications, and web-based information management, maximize rig uptime, improve work efficiency, and minimize operating costs. Pason's common shares trade on the Toronto Stock Exchange under the symbol PSI.

Certain information regarding the Company contained herein may constitute forward-looking information under applicable securities law.  Forward-looking statements in this document include statements regarding the appointment of a new President and CEOand the plans and expectations for growth .  These forward-looking statements are based upon various underlying factors and assumptions, including those with regards to the state of the economy and the oil and gas exploration and production business, in particular; the Company's business prospects and opportunities; and estimates of the financial and operational performance of Pason.

Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur.  Such forward looking statements, although considered reasonable by management as of the date hereof, may prove to be incorrect.  Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Additional information on risks and uncertainties and other factors that could affect Pason's operations or financial results are included in Pason's reports on file with the Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or through Pason's website (www.pason.com).  Furthermore, the forward looking statements contained in this news release are made as of the date of this news release, and Pason does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.


 

SOURCE Pason Systems Inc.

For further information:

For more information about Pason Systems Inc., visit the company's website at www.pason.com or contact:

Jim Hill 
Chairman
403-301-3401
jim.hill@pason.com
                    David Elliott
Chief Financial Officer
403-301-3441
david.elliott@pason.com


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