New Director Slate, Management Proposed for Bristow | Aviation International News

New Director Slate, Management Proposed for Bristow

Bristow shareholder proposes new directors, strategy as alternative to bankruptcy.

By Mark Huber • Contributor

April 25, 2019

Wisconsin-based Global Value Investment Corp. (GVIC) continued its assault on Bristow Group’s directors and senior managers on April 24. GVIC filed a proxy statement with the U.S. Securities and Exchange Commission (SEC) that stated that it intended to nominate a new slate of directors at the heavily indebted helicopter services company’s next annual shareholders’ meeting, which has yet to be scheduled. GVIC maintains that Bristow’s current leadership is defective and that its anticipated future bankruptcy filing would be ill-advised. “Bristow’s current directors have overseen a remarkable destruction of value,” said GVIC CEO Jeffrey Geygan. “Improvements at Bristow are long overdue.”

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