Civeo made public the appointments of Daniel B. Silvers and Jeffrey B. Scofield to its Board of Directors. The company decided to take this step in a collaboration agreement with Engine Capital. According to a statement from the Civeo management team, the two directors are expected to provide valuable support to the company’s long-term strategy. Besides, the appointments became effective immediately.
Scofield has a wealth of global investment experience under his belt and is expected to be a valuable addition to the Audit & Finance and Investment Committees. On the other hand, Silvers is extremely knowledgeable in the areas of capital allocation and public-company leadership. He will be a member of the Compensation and ESG & Nominating Committees. The Civeo board is, for the time being, composed of eleven members, including the new ones.
Civeo Adds Two New Directors to Strengthen Governance and Strategy
There are two directors of the board who will not seek re-election in 2026. Upon their departure, the board will downsize to nine members. Out of these, eight will continue to be independent. Such a composition enhances the company’s corporate governance framework.
The new directors were greeted with warmth by Chairman Richard A. Navarre. According to him, Civeo’s resource-sector operations would greatly benefit from Scofield’s experience. In addition, he referred to operational oversight as the area in which Silvers has the strongest record and hence, can create the most value. The duo is eager to help improve governance and clarify strategy.
Engine Capital expressed its approval of the appointments in a public statement. The investor group began by emphasizing that Civeo enjoys good customer relationships in Canada and Australia. They further communicated their belief that both directors would be instrumental in creating shareholder value to the highest degree.
Civeo still runs large-scale accommodation villages and lodges that cater to the needs of natural-resource projects. Apart from the core housing provision, the company also offers catering, facility management, and full-service workforce housing. All these make Civeo a vital player in the hospitality services sector.
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Source: Businesswire
