December 13, 2016, Nassau, The Bahamas
The TK Foundation is pleased to announce that Board Director Bruce Chan has been named Chair of the Board of Directors of its trustee, the TK Trust Company Limited, subject to approval of the Central Bank of The Bahamas. The TK Foundation is the only client of the TK Trust Company Limited and both are herein referred to as the TK Foundation.
Mr. Chan, appointed a Board Director in May 2015 and Chair November 20, 2016, succeeds Arthur F. Coady who served 14 years as Chair of the TK Foundation and will continue as a Board Director and Chairman Emeritus.
“It is an honour and privilege to serve on the Board of the TK Foundation, and I Iook forward to serving as Board Chair. We are pleased that Mr. Coady will continue as Chairman Emeritus, and together with the existing Board, will help us continue with our mission of fulfilling the legacy of J. Torben Karlshoej by enabling disadvantaged youth to succeed and promoting maritime education and safety.”
Mr. Chan, a Chartered Accountant and Chartered Financial Analyst, is a Portfolio Manager with Anglemont Financial Services, an affiliate of the Kattegat Trust, a charitable trust endowed by Mr. Karlshoej. Mr. Chan joined Anglemont Financial Services following 20 years with Teekay Corporation (NYSE:TK) where he held a number of broad-based senior roles. Prior to his time with Teekay Corporation, Mr. Chan was with Ernst & Young LLC. He holds a Masters in Business Administration, serves on the Board of British Columbia Ferry Service, the second largest ferry operator in the world, and is active on not-for-profit boards.
“Mr. Chan’s experience will enable the TK Foundation to continue to be a strong funding vehicle into the future, says Mr. Coady. “Succession planning is key to success and Mr. Chan is the right person to Chair the Board and guide the strategic direction of the Foundation”.
Also on the TK Foundation Board of Directors are Susan Karlshoej, Captain Kuba Szymanski and Jeff Schaffer.
About the TK Foundation
The TK Foundation is an independent, private, grant-making foundation supporting non-profit maritime and disadvantaged youth development programs. It was established in honor of J. Torben Karlshoej, founder of the Teekay Shipping Group (now Teekay Corporation). Since its inception in 2002, the Foundation’s grants of more than $50 million have helped provide valuable research, health care, facilities, education and other development opportunities in its areas of focus.