Trican Well Service says CEO stepping down, chairman named as replacement

CALGARY — Trican Well Service Ltd. says Dale Dusterhoft, its president and CEO for the past 11 years, is stepping down.

The Calgary-based company says Bradley Fedora will take on the role as of Sept. 1 and that Dusterhoft will continue in his position to assist with the transition until then.

Fedora is to give up his current role as chairman of the Trican board but will continue to sit as a director.

Fedora joined Trican in 2017 after it merged with Canyon Services Group Inc., which had employed Fedora as CEO for 10 years.

Dusterhoft has been with Trican, which offers hydraulic fracturing or “fracking” and other well completion services, since its inception in 1996 and was appointed CEO in 2009.

Trican acknowledged his role in restructuring the company to deal with “significant deterioration” in the Canadian oilfield services market over the past five years.

This report by The Canadian Press was first published July 23, 2020.

Companies in this story: (TSX:TCW)

The Canadian Press

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