Helix Energy Solutions Announces CEO Succession Plan Following Owen Kratz’s Retirement
Helix Energy Solutions Group, Inc. (NYSE: HLX) (“Helix” or the “Company”) today announced that Owen Kratz, President and Chief Executive Officer (“CEO”) and a long-standing member of the Helix Board of Directors, has informed the Board of his decision to retire. Kratz’s planned retirement marks the conclusion of an extraordinary career spanning over four decades in the offshore energy services industry, during which he has been instrumental in shaping Helix into a global leader.
Kratz, who joined Helix in 1984 when the company was known as Cal Dive International, began his career as an offshore diver. Over the years, he held multiple offshore roles before transitioning to onshore management, steadily ascending the corporate ladder. He was first appointed CEO in 1997 and has since guided the Company through numerous challenges and business cycles, including periods of market volatility, technological transformation, and industry consolidation.
To ensure continuity in leadership and a seamless transition, Kratz has indicated his intention to remain in the CEO role until the Board appoints a successor.
A Legacy of Leadership and Innovation
Bill Transier, Chairman of the Helix Board, paid tribute to Kratz’s remarkable career and contributions. “Owen Kratz is a pioneer and a stalwart in the offshore energy services industry, and his leadership of Helix for nearly four decades is to be applauded,” Transier said. “The depth and breadth of his contributions to the Company cannot be overstated. Owen has dedicated his distinguished career to growing Helix from a modest diving company into a globally recognized industry leader. Under his leadership, Helix has innovated across multiple domains, including subsea diving, intervention, robotics, construction, exploration and production (E&P), and decommissioning.”
Transier emphasized that Kratz’s strategic vision and operational expertise have helped Helix navigate numerous economic cycles while consistently delivering value to shareholders and clients. “Owen’s influence extends beyond financial performance,” Transier added. “He has shaped a culture of integrity, operational excellence, and innovation, which will continue to guide Helix long after his departure.”
Reflections from Owen Kratz
Kratz expressed both pride and gratitude as he reflected on his tenure at Helix. “Helix has significantly evolved since I first joined Cal Dive, and it has been the privilege of my career to lead this unique Company and grow it into what it has become today,” he said.
He acknowledged the role of colleagues and collaborators in Helix’s success. “Working with friends and colleagues over the years, I am proud to have overseen Helix’s rise as a leading and trusted offshore services provider around the world, and to have done so with integrity. Helix is well positioned for future growth, supported by a strong balance sheet that provides opportunities to expand and innovate. I am confident in the Company’s ability to create long-term value and look forward to supporting the team in achieving new heights. It is exciting to envision what the next chapter of Helix will bring.”
Commitment to a Smooth Transition
Succession planning has been a key focus of the Helix Board and executive management. Transier noted that Kratz has played an integral role in ensuring a well-orchestrated leadership transition. “Succession planning is a matter the Board and Owen have long discussed. The Board and executive management are committed to continuity and a smooth transition, and we are grateful that we will continue to benefit from Owen’s expertise and perspective throughout this process,” he said.
The Board has reiterated its commitment to identifying a successor who possesses strong leadership experience in global business operations and a proven track record in the offshore energy services sector. “We are focused on selecting our next CEO, someone with the vision, operational expertise, and leadership skills to guide Helix through the next phase of growth,” Transier added.
Helix’s Evolution Under Kratz
Since Kratz assumed leadership in 1997, Helix has transformed from a specialized diving company into a diversified, global energy services firm. The Company has expanded its service portfolio to include subsea intervention, robotic solutions, offshore construction, E&P support, and decommissioning projects. Under Kratz’s guidance, Helix has embraced technological innovation, investing in state-of-the-art equipment, digital tools, and industry-leading operational practices.
Kratz’s tenure has been defined by a focus on operational safety, client trust, and sustainable growth. The Company’s expansion into multiple international markets and the introduction of innovative subsea technologies have positioned Helix as a trusted partner for energy companies worldwide.
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