Calgary –On March 30 the Petroleum Services Association of Canada (PSAC) announced today that Gary Mar has resigned as president and CEO of the association, effective April 15, 2020 to accept a position in another organization.
The resignation comes at a time when oil prices have collapsed, oil demand is falling, and the COVID-19 crisis has put a huge damper on the economy. Western Canadian Select closed at USD$4.26 on that day.
“In the interim, senior vice president Elizabeth Aquin will assume the role of president and CEO with the full confidence of the association’s board of directors. As we navigate these challenging times, Elizabeth is dedicated to continue bringing our members together as a unified force for positive progress for our industry,” said Mark O’Byrne, PSAC board chair and president, Palliser Production Management Ltd. (a Schlumberger Canada Limited company).
In accepting this role after over 25 years with the Association leading its advocacy efforts, Aquin affirms, “Now, more than ever, it is critical that we maintain our presence as a strong voice and advocate for our members, who are the backbone of Canada’s most vital industry.”
The board of directors thanked Mar for his leadership, wishing him all the best in his new endeavors. “Gary has been a positive contributor to the association as it has demonstrated the value to Canadians across the country provided by the service, supply and manufacturing sector within Canada’s energy sector,” said O’Byrne.
The association said its interim president and CEO Aquin will “build on the accomplishments achieved by Aquin and Mar, ramping up advocacy efforts to new highs.”
“These are challenging times for PSAC members and the Association, with reduced demand for new energy development due to the impact from the recent historic drop in commodity prices and the COVID-19 pandemic. However, PSAC will continue to safely interact with members and government to advocate for the essential service members provide and for the important support programs necessary. The current situation has emphasized further the essential role PSAC members have in the Canadian economy,” the press release said.
The PSAC board of directors has begun a search for a permanent president and CEO.