CALGARY, AB, Dec. 17, 2021 /CNW/ - Calfrac Well Services
Ltd. ("Calfrac" or the "Company") (TSX: CFW) is
announcing changes to its executive officers. Effective
today, George Armoyan has been
appointed as the Company's interim Chief Executive Officer.
Mr. Armoyan joined the Company's board of directors in
December 2020 and controls Calfrac's
largest shareholder, G2S2 Capital Inc. In connection with such
appointment, Ronald P. Mathison is
stepping down as Executive Chairman, and has now been appointed as
Chairman of Calfrac. Mr. Mathison will continue his
leadership of the Company's board of directors.
Mr. Mathison commented, "Mr. Armoyan has a proven track record
of creating shareholder value by applying a common-sense approach
to business, which will be of great benefit to Calfrac and its
stakeholders." Mr. Armoyan added, "I am pleased to join
Calfrac's executive team and look forward to working with
management and the board to execute Calfrac's business
plan."
Calfrac's common shares and warrants are publicly traded on the
Toronto Stock Exchange under the trading symbols "CFW" and
"CFW.WT", respectively.
Calfrac provides specialized oilfield services to exploration
and production companies designed to increase the production of
hydrocarbons from wells drilled throughout western Canada, the United
States, Argentina and
Russia.
SOURCE Calfrac Well Services Ltd.