Investors: 2006 Press Release Archive
HSE Integrated Ltd. Appoints Jim Brewster Vice-Chairman, Jim Hill President
NEWS RELEASE – May 24, 2006
HSE Integrated Ltd. ("HSE" or the "Company") announces that the Board of Directors has approved the following senior executive changes effectively immediately.
Jim Brewster, the former owner of SDS Group Inc. and President of HSE since SDS was acquired in December, 2004, has relinquished the position of President and will assume the newly-formed position of Vice-Chairman. In this role Mr. Brewster will continue to provide strategic direction to HSE at the Board of Directors and senior management level. Specifically, he will be involved in determining new business opportunities, strategic expansions, and providing operating management with guidance and direction as the Company continues to grow. Mr. Brewster will continue to act as a Director of the Company.
Jim Hill, formerly the Executive Vice-President and Acting Chief Financial Officer, will assume the position of President of HSE. Following the hiring of a new Chief Financial Officer, (announced May 19, 2006), Mr. Hill will focus his energies on building and managing the Company. As President, Mr. Hill will draw upon his long and distinguished career as the Chief Financial Officer of a number of fast-growing companies to ensure that HSE provides its operating divisions with the financial direction and management support they need to grow profitably and efficiently. Mr. Hill will continue to serve as a Director.
David Yager, CEO, had the following comments on this senior management realignment.
"In the past two years and including the pending acquisition of Bear's Safety (May 8, 2006), HSE has undertaken 16 acquisitions that have transformed it into the largest safety services company in Canada with a national delivery footprint. In those two years, the mandate of senior management has evolved dramatically.
The initial question of "can it be done?" of two years ago has been answered. Yes, and this has been demonstrated by HSE's dramatic revenue and capacity growth. Along the way HSE has received tremendous support from customers and has identified a large number of opportunities – organic and external - for continued expansion It is now clear that HSE has identified a unique business opportunity that is of significant benefit to all three of our major stakeholders – customers, employees and capital providers.
But going forward, the job of senior management is much different as the focus shifts from "if" to "how". HSE must ensure that it grows the back end of the Company – administration, finance, operations support and management systems – grows as quickly as we can obviously grow the front. To achieve this, the pure entrepreneurs like Jim Brewster are stepping aside to be replaced by professional administrators with strong financial experience like Jim Hill. Jim will be supported by our new CFO, Tony Hidalgo.
Based on our first quarter results, HSE in 2006 will be seven times larger than it was in 2003. Managing this high rate of growth while planning to continue it means that the senior management team going forward is not necessarily the one that got us here. I believe these changes will allow HSE to keep growing while at the same time ensuring we remain the best we can on all fronts – customer service, employee retention and fulfillment, and optimal financial performance."
HSE is an integrated supplier of industrial Health, Safety and Environmental services. From its head office in Calgary, Alberta HSE serves its clients from field service locations in Alberta, British Columbia, Ontario, New Brunswick, Nova Scotia and Michigan.
HSE trades on the TSX Venture Exchange under the symbol "HSL".
For more information please contact:
David Yager, Chairman & CEO
Telephone: (403) 266-1833
E-Mail: