Teekay Announces Senior Management Changes

Teekay Announces Senior Management Changes 
HAMILTON, BERMUDA -- (Marketwire) -- 11/14/12 -- Teekay Corporation
(Teekay or the Company) (NYSE:TK) announced that Executive Vice
President, Innovation, Technology and Projects, Graham Westgarth, has
informed the Company of his intention to resign from his position
effective December 31, 2012, after more than 13 years of service with
the Company. 
Peter Evensen, Teekay's President and Chief Executive Officer said,
"I was sorry to hear from Graham Westgarth that he has decided to
move on from Teekay." Mr. Evensen continued, "Graham has been an
instrumental part of Teekay's growth. He is a reflection of what
Teekay is today - a leader with a reputation for operational
excellence and integrity." 
Graham Westgarth said, "My time with Teekay has been exciting,
intellectually stimulating and professionally rewarding. Having said
this, I feel the time is right to move on, and seek opportunities
where I can best bring my operational knowledge and experience to
Mr. Westgarth joined Teekay in 1999 as Vice President, Marine
Operations. In 2003, Mr. Westgarth was appointed President of Teekay
Marine Services division, with a responsibility for the marine and
technical operations of Teekay's fleet, and also newbuild
construction. During this time, Mr. Westgarth was the elected
Chairman of the International Association of Independent Tanker
Owners (INTERTANKO). In 2011, he assumed his new role as Executive
Vice President for Innovation, Technology and Projects. Mr. Westgarth
has 40 years of industry experience, which includes 18 years of sea
service, with five years in a command position.  
Teekay has appointed Chief Strategy Officer and Executive Vice
President, Kenneth Hvid to assume Mr. Westgarth's portfolio of
About Teekay 
Teekay Corporation provides a comprehensive set of marine services to
the world's leading oil and gas companies, helping them seamlessly
link their upstream energy production to their downstream processing
operations. Teekay is growing its operations in the offshore oil
production, storage and transportation sector through its
publicly-listed subsidiary, Teekay Offshore Partners L.P. (NYSE:TOO),
continues to expand its significant presence in the liquefied natural
gas shipping sector thro
ugh its publicly-listed subsidiary, Teekay
LNG Partners L.P. (NYSE:TGP), and seeks to grow its conventional
tanker business through its public subsidiary, Teekay Tankers Ltd.
(NYSE:TNK). With a fleet of approximately 150 vessels, offices in 16
countries and approximately 6,400 seagoing and shore-based employees,
Teekay transports 10 percent of the world's seaborne oil and its
reputation for safety, quality and innovation has earned it a
position with its customers as The Marine Midstream Company.  
Teekay's common stock is listed on the New York Stock Exchange where
it trades under the symbol "TK".
Teekay Corporation
Priscilla Sharun
Media Relations Enquiries
+1 (604) 844-6631 
Teekay Corporation
Kent Alekson
Investor Relations Enquiries
+1 (604) 844-6654
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