Royal Helium Ltd. has announced significant changes to its leadership team. Andrew Davidson has stepped down from his position as Chief Executive Officer and Director of the Company, citing personal reasons. Effective immediately, David Young has assumed the role of CEO and has been appointed to the board of directors.
John Pringle, Non-Executive Chair of Royal, expressed gratitude to Andrew Davidson for his years of service and dedication to the company. Pringle highlighted Davidson’s instrumental role in advancing Royal to its current stage and wished him well in his future endeavors.
David Young brings over two decades of experience as an investor and operator in the resource sector. He has been involved with numerous middle-market and billion-dollar companies, serving as an activist investor, operator, and board member. Young also boasts significant experience in restructuring and turnaround situations, having held positions at prominent global firms like Houlihan Lokey, Perella Weinberg Partners, and The Carlyle Group.
In his new role, Young is enthusiastic about contributing to the strategic realignment of the company’s financial trajectory. He aims to assemble a top-tier operational team dedicated to optimizing and fully utilizing Royal’s substantial helium purification infrastructure, ensuring its maximum potential is realized.
Alongside the CEO change, Royal has also announced the resignations of John Styles, VP Engineering, and Spiro Kletas, VP Investor Relations. The company expresses its appreciation for their contributions and wishes them the best in their future endeavors.
Royal Helium is a leading production, infrastructure, and exploration company specializing in the development of helium and associated gases. Their extensive footprint includes prospective helium permits and leases across southern Saskatchewan and southeastern Alberta. With the current global undersupply of this critical and non-renewable resource, Royal is positioned to be a major North American producer of helium, a commodity experiencing increasing value.
Royal’s helium reservoirs are primarily associated with nitrogen, a non-greenhouse gas. This results in a low greenhouse gas footprint for the company’s operations compared to plants in other jurisdictions that rely on large-scale natural gas production for helium extraction. Royal’s helium extraction processes in Saskatchewan and Alberta are up to 90% less carbon-intensive than those in other regions, making them a more sustainable option.
