CE Franklin Ltd. announces CFO Change
09 June 2011 - 4:00AM
PR Newswire (Canada)
CALGARY, June 8, 2011 /CNW/ -- CALGARY, June 8, 2011 /CNW/ - CE
FRANKLIN LTD. (TSX.CFT, NASDAQ.CFK) is pleased to announce the
promotion of Mr. Derren Newell to the position of chief financial
officer ("CFO"). Mr. Newell, previously Financial Controller
has extensive experience and expertise in finance, accounting,
audit, tax and a wealth of experience with strategic and
operational support in the energy and distribution industries. Mr.
Newell succeeds Mr. Mark Schweitzer who is leaving CE Franklin to
pursue an opportunity with an oil sands development company. "Our
succession planning and bench strength allows a strong performer to
step into the role to continue to advance CE Franklin's
strategies," said Michael West, President and CEO. "On behalf of
our board of directors and management team, I would like to thank
Mark for his commitment and contribution during his tenure at CE
Franklin. Mark helped move forward our acquisition and
diversification strategies and Derren will help us continue on this
path," added Mr. West. Derren Newell will start the role
immediately and Mr. Schweitzer will ensure a smooth transition.
About CE Franklin For more than half a century, CE Franklin has
been a leading supplier of products and services to the energy
industry. CE Franklin distributes pipe, valves, flanges, fittings,
production equipment, tubular products and other general oilfield
supplies to oil and gas producers in Canada as well as to the oil
sands, refining, heavy oil, petrochemical, forestry and mining
industries. These products are distributed through its 45
branches, which are situated in towns and cities serving particular
oil and gas fields of the western Canadian sedimentary basin.
Forward-looking Statements: The information in this news release
may contain "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 and other applicable securities
legislation. All statements, other than statements of
historical facts, that address activities, events, outcomes and
other matters that CE Franklin plans, expects, intends, assumes,
believes, budgets, predicts, forecasts, projects, estimates or
anticipates (and other similar expressions) will, should or may
occur in the future are forward-looking statements. These
forward-looking statements are based on management's current
belief, based on currently available information, as to the outcome
and timing of future events. When considering forward-looking
statements, you should keep in mind the risk factors and other
cautionary statements and refer to the Form 20-F or our annual
information form for further detail. To view this news release in
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align="center" Mr. Michael Westbr/ 800-345-2858br/ a
href="mailto:investor@cefranklin.com"
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