Jennifer Whalen has been appointed the CFO of Bristow Group, the helicopter company that has its head office in west Houston.
Bristow merged with ERA Group in June, in an all-stock transaction. Although Bristow shareholders ended up with 77% of the combined company, it was mostly ERA management that took the senior roles in the combined group.
Ms Whalen joined ERA in 2012 and was appointed interim CFO in June 2017. The interim tag was removed in February 2018. After the Bristow/ERA merger, she was again named interim CFO. The company stated that a permanent CFO would be named later.
Ms Whalen is rewarded for her patience with a pay raise of $70,000 to $380,000. She also received a one-time equity award of 11,667 shares of performance-vested restricted stock and 11,667 stock options.
At the time of the merger, the company said it expected to achieve annualized cost savings of at least $35 million. This would occur through the elimination of duplicate corporate expenses and greater operational efficiencies. Last month, the company increased that amount to $45 million. It said it had already realized $16 million of annualized savings.