Bristow announces organisational changes to cut costs

Bristow Caribbean

Oil and gas operator Bristow is taking steps to streamline operations and reduce costs by eliminating the role of vice president and chief safety officer. Steve Predmore who filled this role has now left the company.

Johnathan Baliff, president and CEO of Bristow said: “Steve has played a pivotal role building on our strong foundation and further developing the unmatched safety culture we see today at Bristow.

“Steve helped us take our Target Zero safety culture to the next level and develop an outstanding bench of professionals and capabilities in our safety group.  We are confident Bristow will remain at the forefront of safety leadership in the aviation industry as we move forward.”

Steve was not the only person to leave the company in the last few weeks. Bristow’s senior vice president and general counsel Tim Knapp has also left the company and will be replaced by the deputy general counsel Bo Underwood.

“Bristow has made effective changes these past several years to stay ahead of the offshore logistics downturn and evolve the industrial aviation industry,” added Baliff. “Today’s announced changes will enable Bristow to continue to improve – not just in today’s oil and gas market, but in any markets it serves for the short and long term.”

Downturn strategy

Bristow announced that it would be undergoing significant strategy and leadership changes to make the company profitable again after the oil and gas downturn in June 2017.

Bristow’s main goals is to reduce corporate and admin costs to approximately 12% of revenues, improve liquidity and reduce debt through fleet optimisation. It hopes to hit these goals by June 2019.

Baliff added: “Market demands have changed, which means we must continue to look for opportunities to improve our support services model and enable our geographical hubs to operate more effectively and efficiently.”