Offshore energy services company Helix Energy Solutions Group Inc., Houston, announced Wednesday that its longtime president and chief executive officer, Owen Kratz, has informed the company’s board of directors of his intention to retire.
Kratz, who also serves on the Helix board, plans to remain CEO until a successor is appointed, the company said. Helix said the approach is intended to ensure leadership continuity and a smooth transition.
Kratz joined the company, then known as Cal Dive International, in 1984 after beginning his career as an offshore diver. He was appointed CEO in 1997 and has led the company through multiple business cycles as it expanded into global offshore energy services.
“Owen Kratz is a pioneer and a stalwart in the offshore energy services industry, and his leadership of Helix for nearly four decades is to be applauded,” said Bill Transier, chairman of the Helix board of directors. “The depth and breadth of his contributions to the Company cannot be overstated, as he has dedicated his distinguished career to the growth of Helix from a small diving company to a global industry leader.”
Kratz said leading the company has been the highlight of his career. “Helix has significantly evolved since I first joined Cal Dive, and it has been the privilege of my career to lead this unique company and grow it into what it has become today,” he said. “Helix is well positioned and has a strong balance sheet that affords opportunities for future growth.”
Transier said succession planning has been an ongoing discussion between the board and Kratz. “We are focused on selecting our next strong CEO, with proven experience as a global business leader,” he said.
