CHC Helicopter chief executive Jorn Madsen is resigning after 10 months in the role, to be replaced by former Valaris CEO Tom Burke.
Jorn Madsen, formerly of Maersk Drilling, became CEO of CHC in February 2023.
He said Thursday he has made the “difficult decision” to step down in order to “prioritise my other professional and personal commitments”.
CHC did not elaborate when asked for more details, saying it would be inappropriate to comment on personal circumstances.
Tom Burke, who led rig giant Valaris from 2019 to 2021, will succeed him as CHC CEO on February 1.
The offshore rotorcraft sector trails the drilling sector on profitability, and investment manager Cross Ocean, the controlling party in CHC following its 2022 restructuring, brought in Mr Madsen to tap into that.
His replacement in Mr Burke, with a very similar background, is seen as a continuity move.
CHC issued a statement noting that Jorn Madsen was appointed last year to “set a new trajectory toward growth, innovation and continued industry leadership” at the helicopter operator.
With the first phase of work to craft a new strategy and identify new opportunities and areas for improvement, CHC said “Jorn has decided now is an appropriate time to step down to focus on other professional and personal commitments”.
Jorn Madsen said: “We spent considerable time reviewing our operations, market dynamics, and opportunities for growth – and the result is a new, re-focused growth strategy.
“With the strategic phase of this work complete, I have made the difficult decision to step away from CHC to prioritize my other professional and personal commitments.”
CHC chairman Harry Quarls added: “On behalf of the board, I would like to thank Jorn for his effective leadership.
“Over the past year, the senior leadership team has defined a path towards growth and innovation. We are delighted to welcome Tom Burke and are confident the company is well positioned to be the global leader in vertical aviation.”
Joining last year, Jorn Madsen replaced David Balevic who was in the role for three years.
Mr Balevic’s tenure included a takeover attempt of Babcock aviation business, the UK portion of which was blocked by competition authorities, and a turbulent period for the European business amid a management shakeup.
CHC also completed a $500m restructuring during Mr Balevic’s time in the cockpit, completed in 2022.
Tom Burke was most recently operating partner at private equity group SCF Partners, and was on the board of portfolio companies Hydrasun and Score Group based in north-east Scotland.
He oversaw the merger of Rowan and Ensco to create Valaris, the world’s largest rig firm by fleet size.
Similarly, Jorn Madsen led Maersk Drilling until its 2022 merger with Noble Group.