Stephen A. King resigns as Bristow Director
In an 8-K filing yesterday, Bristow Group disclosed that its director Stephen A. King has resigned as director and has stepped down from the board.
According to the filing submitted to the Securities & Exchange Commission yesterday, the departure did not result from any disagreements with the company’s operations, policies or practices.
King will continue to serve as the chairman of the board of directors at the group’s subsidiary Bristow Aviation Holdings for a short period until a successor can be appointed. The summary closes with Bristow announcing it intends to reduce to reduce the size of the board and will not be appointing a direct successor to King.
This is the latest resignation of a series to have occurred during the past few strained months which started back in September with the departure of vice president and chief safety officer Steve Predmore. This was shortly followed by the departure of the Group’s CEO Johnathan Baliff in November last year. The CEO role will be filled temporarily by vice chairman of the board Thomas Amonett.
The filing was made on the same day as Bristow revealed further delays to the filing of its 10-Q quarterly report for the three months ended 31 December 2018. The group cited inadequate monitor control processes as the reason for the delay.
The group is now reviewing its reporting processes and controls to ensure compliance with non-financial covenants and within financing and helicopter leasing agreements.
According to the 8-K filing, this will be the last update until the 10-Q filing has been filed.