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Peter Lytzen Announces His Retirement

Source: 1/25/2017, Location: North America

Peter Lytzen has decided to retire from Teekay effective upon completion and delivery from the shipyard of the Gina Krog FSO project. He will continue to be a member of the Board of Directors of Sevan Marine ASA, a position he has served since 2011.

Peter joined Teekay in 2007 as President and Chief Executive Officer of Teekay Petrojarl, ASA where he led the company through a significant growth phase, expanding from 5 FPSOs to the current fleet of 11 FPSOs. In August 2015, Chris Brett succeeded Peter Lytzen as new President for Teekay’s FPSO and Peter was appointed to the Executive Committee of Teekay Offshore Group Ltd., where he has had a broader leadership role over Teekay’s entire offshore group business, working closely with Kenneth Hvid and Ingvild Saether.

Peter Lytzen said “I have thoroughly enjoyed my time at Teekay. It has been an exciting challenge to grow Teekay’s FPSO business over the last 9 years and lead the development of a deep expertise within the company in this very complex and sophisticated area of the offshore market.”

Kenneth Hvid, Teekay Corporation’s CEO-elect, said “It has been a pleasure working with Peter over the past 9 years. He has brought a wealth of FPSO and offshore industry experience to Teekay and has been instrumental in developing Teekay into one of the leading FPSO operators in the North Sea and Brazil where we are successfully operating highly sophisticated FPSOs such as the Petrojarl Knarr for Shell and the Pioneiro de Libra for Petrobras. He has also been a valuable contributor to the Teekay Senior Leadership Team and we will all miss his insights and good humor. We of course wish him the very best in his retirement, but are pleased that he will continue to oversee the completion and delivery of the Gina Krog FSO, which is scheduled for delivery during the first half of 2017.”

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