Just weeks after settling into his role as Tidewater president and chief executive, Quintin Kneen is already making his mark on the US-based OSV heavyweight with a management shakeup
Mr Kneen announced that Tidewater had reached agreements with company executive vice president and chief operating officer Jeffrey A Gorski and executive vice president, general counsel and corporate secretary Bruce D Lundstrom which would result in their resignations effective 30 September. Tidewater has eliminated the position of COO and has appointed Daniel A Hudson to succeed Mr Lundstrom as general counsel. As part of the agreements, Mr Gorski and Mr Lundstrom have agreed to provide “transition services” on an as-needed consulting basis.
Both long-time executives of Tidewater, Mr Gorski and Mr Lundstrom were part of the management team involved in the Tidewater’s Chapter 11 restructuring and its subsequent merger with Gulfmark Offshore.
“We are grateful for the contributions Jeff and Bruce have made to Tidewater over the years, and in particular for the important roles they played during our recent restructuring and subsequent merger and integration,” said Mr Kneen.
“These organisational changes are part of a renewed focus on improving decision-making efficiency. At Tidewater, we are dedicated to finding additional opportunities to streamline our shore base infrastructure in order to reduce general and administrative expenses as part of our commitment to be the most cost-efficient major offshore vessel operator in the world.”
In January 2012, Mr Gorski joined Tidewater from Schlumberger as senior vice president, responsible for its operations in the US and its engineering and technical services group. In June 2012, he was promoted to executive vice president and COO, responsible for the company’s worldwide operations.
Mr Lundstrom joined Tidewater as senior vice president, general counsel and secretary in September 2007, following a 10-year career in the energy business. In August 2008 he was promoted to executive vice president, general counsel and secretary. He was responsible for the legal and insurance staff of the company and was Tidewater’s chief compliance officer.
Tidewater is one of the largest OSV owners in the world, with a market capitalisation of US$632M and active fleet of 163 vessels, according to a recent company presentation. It has a fleet of 223 vessels, including anchor handling tug supply vessels and platform supply vessels.