Teekay Tankers Announces New CEO

HAMILTON, BERMUDA–(Marketwired – May 28, 2014) – Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE:TNK) today announced the appointment of Mr. Kevin J. Mackay as Chief Executive Officer (CEO) of Teekay Tankers, effective June 20, 2014. Mr. Mackay will join Teekay Tankers from Phillips 66 Corporation (Phillips 66), where he is currently head of the global marine business unit for this industry-leading downstream company. In this role, he is responsible for all aspects of marine transportation, including chartering, operations, demurrage, strategy & freight trading, business improvement and marine risk management. He held a similar role as the General Manager, Commercial Marine at ConocoPhillips from 2009 to 2012 before the formation of Phillips 66. Mr. Mackay started his career working for Neptune Orient Lines in Singapore from 1991 to 1995. He then joined AET Inc. Limited (AET) (formerly American Eagle Tankers Inc.) in Houston, where he ultimately was the Regional Director – Americas, Senior Vice President, responsible for AET’s business in the Americas, including commercial and business development, operations, technical, finance and human resources. Mr. Mackay holds a B.Sc. (Econ) Honours from the London School of Economics & Political Science. He has extensive international experience, having lived in Japan, Singapore, London and Houston. “The Board is very pleased to welcome Kevin Mackay as the new CEO of Teekay Tankers,” commented Arthur Bensler, Teekay Tankers’ Chairman. “Mr. Mackay is a seasoned industry professional with the experience and skill sets to effectively lead Teekay Tankers in its next growth phase. At Teekay Tankers, we work hard to develop and deepen long-term partnerships with our customers. Kevin’s current experience at Phillips 66 as well as his previous extensive international experience, will ensure Teekay Tankers continues to focus on our customers’ needs.” Mr. Mackay commented, “Teekay Tankers is a well-established leader in the tanker business and I have followed its performance closely over the years. I am excited to be given the opportunity to lead the Teekay Tankers team. Their well-deserved reputation for operational excellence and customer focus puts us in a great position to take advantage of a tanker market recovery.” Mr. Mackay will be relocating to Vancouver in the coming weeks to effect the transition of leadership from the current CEO, Bruce Chan, who has resigned effective June 20, 2014. About Teekay Tankers Ltd. Teekay Tankers currently owns a fleet of 27 double-hull vessels, including 11 Aframax tankers, 10 Suezmax tankers, three Long Range 2 (LR2) product tankers, three Medium-Range (MR) product tankers and has one time-chartered in Aframax tanker, all of which vessels an affiliate of Teekay Corporation (NYSE:TK) manages through a mix of short- or medium-term fixed-rate time-charter contracts and spot tanker market trading. The Company also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a minority interest in Tanker Investments Ltd. (OSLO:TIL). Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business. Teekay Tankers’ common stock trades on the New York Stock Exchange under the symbol “TNK”.