Following the formation of Cool Company Ltd. ("CoolCo" or the "Company") and
successful equity raise in January 2022, the board of CoolCo is pleased to
announce the appointment of a new management team: Mr. Richard Tyrrell as Chief
Executive Officer, Mr. Johannes (John) P. Boots as Chief Financial Officer, and
Ms. Sarah Choudhry as General Counsel.
Mr. Tyrrell joins CoolCo from Höegh LNG where he held several senior positions
including Chief Development Officer and Chief Executive Officer of Höegh LNG
Partners. Prior to joining Höegh LNG, Richard worked as an investment banker for
Perella Weinberg Partners and Morgan Stanley. He holds a Master of Business
Administration from Harvard Business School and a BEng Mechanical Engineering
from Imperial College.
Mr. Boots brings decades of capital markets, investor relations, and treasury
experience to CoolCo. He most recently served as CFO of Pacific Drilling S.A.
Ms. Choudhry has a 15-year background in maritime law. She spent the past three
years as legal counsel for Eastern Pacific Shipping, one of the world's largest
shipping companies and the largest shareholder of CoolCo.
The new management team will join CoolCo during Q2 2022 allowing a smooth
management transition and will operate from the Company's London offices.
Cyril Ducau, Chairman of CoolCo and Chief Executive Officer of Eastern Pacific
Shipping, stated:
"On behalf of the Board, I would like to welcome Mr. Tyrrell, Mr. Boots and Ms.
Choudhry and express our great confidence that they will establish CoolCo as a
market leader in LNG shipping. After a thorough search, we concluded that these
experienced professionals would form the ideal team to lead CoolCo. I am
delighted that all three are joining the Company and bringing with them their
deep industry knowledge, leadership experience, and a track record of success.
With a strong shareholder base, a favourable LNG market, and an experienced
management team, CoolCo is poised to deliver exceptional shareholder value in
the short and long term.
I would also like to take the opportunity to thank our interim management team
of Mr. Karl Fredrik Staubo and Mr. Eduardo Maranhao for their important
contribution to the formation and launch of CoolCo. We will continue to work
with them and the rest of the Golar team to make CoolCo a success."
Mr. Richard Tyrell commented:
"CoolCo is an exciting opportunity to build a market leader in LNG shipping. It
has assets that will provide a competitive platform for growth and backing from
strong industrial shareholders. The combination of the newly announced team with
first-class professionals joining from Golar further positions the company to
benefit from strengthened LNG freight fundamentals. I look forward to starting
in the position of Chief Executive Officer at the end of the quarter."
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements, which reflects
management's current expectations, estimates and projections about CoolCo's
plans and operations, including the private placement. All statements, other
than statements of historical facts, that address plans, operations, activities
and events that will, should, could or may occur in the future are
forward-looking statements. Words such as "may," "could," "should," "would,"
"expect," "plan," "anticipate," "intend," "forecast," "believe," "estimate,"
"predict," "propose," "potential," "continue," or the negative of these terms
and similar expressions are intended to identify such forward-looking
statements.
These statements are not guarantees of future performance of the transactions
described herein or CoolCo's LNG business activities and are subject to certain
risks, uncertainties, and other factors, some of which are beyond our control
and are difficult to predict. Therefore, actual outcomes and results may differ
materially from what is expressed or forecasted in such forward-looking
statements, including with respect to the transactions necessary for the
creation, financing and listing of CoolCo. You should not place undue reliance
on these forward-looking statements, which speak only as of the date of this
press release. CoolCo undertakes no obligation to update publicly any
forward-looking statements whether as a result of new information, future events
or otherwise, unless required by applicable law.
March 24, 2022
Cool Company Ltd.
Hamilton, Bermuda
Enquiries: + 44 207 063 7900
Karl Fredrik Staubo - Interim CEO
Eduardo Maranhão - Interim CFO
Stuart Buchanan - Head of Investor Relations
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act