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
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.
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