Nassau, The Bahamas
The TK Foundation is pleased to announce the Central Bank has approved their appointment of Paul Townsend to the Board of Directors of its trustee, the TK Trust Company Limited. The TK Foundation is the only client of the TK Trust Company Limited and both are herein referred to as The TK Foundation.
Mr. Townsend, an advisor to The TK Foundation Board of Directors since 2017, brings 25 years experience in governance, focused specifically on internal audit, risk management, quality assurance and compliance for regional and international organizations. Prior staring his own consultancy, Townsend Risk Advisory in 2019, Mr. Townsend was the Vice President of Audit, QA & Chief Risk Officer for the Teekay Group of Companies, serving as the compliance advisor to four Boards listed on the New York Stock Exchange.
“The addition of Mr. Townsend to The TK Foundation’s Board of Directors demonstrates our ongoing commitment to securing and growing the legacy of our founder, J. Torben Karlshoej, and ensuring it continues as a strong funding vehicle for disadvantaged youth and the maritime sector,” says Bruce Chan, Chair of The TK Foundation. “Mr. Townsend has in his advisory capacity to the Board, demonstrated his commitment to a strong governance structure. His professional experience includes first-hand understanding of the maritime sector and, personally, he brings a passion for working with underprivileged members of the community.”
A Certified Accountant and Certified Public Accountant, Mr. Townsend has earned several other designations. Amongst his many professional and personal accomplishments, Mr. Townsend served as the Vice Chair of the Maritime Anti-Corruption Network from 2017 – 2019.
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 $46 million have helped provide valuable research, health care, facilities, education and other development opportunities in its areas of focus.