The Teekay Group has made changes at the senior management level following a strategic review designed to simplify its structure.

Teekay Tankers’ president and chief executive, Kevin Mackay, and chief financial officer, Stewart Andrade, are to leave the organisation at the end of August.

Kenneth Hvid, Teekay’s president and chief executive officer and Teekay Tankers’ chairman, will take on the added role of Teekay Tankers’ president and CEO.

Brody Speers, Teekay’s vice-president, Finance and treasurer, will become CFO of both Teekay Corporation and Teekay Tankers.

In addition, Mikkel Seidelin, Teekay Tankers’ head of Chartering & Commercial Operations, has been appointed as chief commercial officer for Teekay Tankers.

Mr Hvid said: “Both Kevin and Stewart have been significant contributors to Teekay Tankers’ success over the years, successfully navigating the company through challenging years and positioning us to thrive during the current market upcycle as well as strengthening our ship management by bringing our operations back in-house.

“On behalf of the board of directors of Teekay Tankers, we thank them for their dedication and service and wish them the very best. Going forward, I look forward to stepping into my new role as CEO of Teekay Tankers and continuing the multiyear work of simplifying and streamlining the Teekay Group and building strong balance sheets for continued value creation for our long-term shareholders at both Teekay and Teekay Tankers.”