(SAExploration, 7.Dec.2021) — SAExploration Holdings, Inc. announced that Michael J. Faust, President and Chief Executive Officer, will retire from his executive positions, effective 1 January 2022. He will continue to serve on the Company’s Board of Directors and in a consulting capacity. Mike has served on the Board of Directors since 2017. He was initially appointed Interim CEO in August 2019, and then served as Chairman and CEO during 2020, and later as President and CEO. During his tenure, the company restructured the balance sheet, reducing debt levels by over $110mm, and became a private corporation.
Faust noted “Leading this company through these difficult times has been very challenging, but also extremely rewarding. The talent and dedication of our workforce is second to none. The team has kept safety and the quality of our services at the top of the industry. The economic downturn and Covid-19 presented new challenges, which required reorganization and cost reductions, but the team stayed focused and is now very well positioned for the recovery we are beginning to witness.”
The Board of Directors is pleased to announce the appointment of Forrest Burkholder as President and Chief Executive Officer, effective on Faust’s retirement. Forrest has over 35 years of experience in the seismic industry, and over 10 years with SAExploration. He has worked in several capacities on seismic crews around the world, learning the business from the bottom up. He has held management positions with progressively more responsibility, culminating in his appointment as Executive Vice President of Operations in 2020.
“Forrest’s knowledge of our company and the seismic business is exceptional,” said Chairman Ken Tubman. “His knowledge and leadership qualities make him uniquely qualified to step into this role and lead the company into the future. His focus on safety, environmental stewardship, and quality will continue to deliver the very best products for our customers.”
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