Teekay Corporation : Announces Senior Management Change

HAMILTON, BERMUDA--(Marketwired - April 4, 2013) - Teekay Corporation (Teekay or the Company) (NYSE: TK:
http://marketwire.com/news_room/stock?ticker=TK) announced that Geir Sekkesaeter, Senior Vice President, Conventional Fleet Operations, and Head, Technical, Safety and Quality, has decided to leave Teekay for personal reasons, effective as of March 31, 2013.

Peter Evensen, Teekay's President and Chief Executive Officer said, "Geir Sekkesaeter has played an important role in the operational life of Teekay over the last few years." Mr. Evensen continued, "Geir led the marine management team with great focus and determination. He was instrumental in the successful recent establishment of the Teekay Marine Ltd. joint venture and the transfer of ship management accountability into the Business Units. I would like to thank him for his efforts and wish him well in his future endeavors."

Geir Sekkesaeter said, "When I joined Teekay in 2008 I was excited not just to work for an industry operational leader, but also to be involved in the long-term development of the Teekay fleet operational strategy. It has been an immensely enjoyable journey. Now is the right time to pursue new opportunities where I can apply my operational and execution experience."

Mr. Sekkesaeter's responsibilities have been transferred to the respective Business Unit Presidents of the Conventional, Shuttle, and Gas fleets, each of whom is a member of the Teekay Senior Leadership Team.

About Teekay

Teekay Corporation is an operational leader and project developer in the marine midstream space. Through its general partnership interests in two master limited partnerships (MLPs), Teekay LNG Partners L.P. (NYSE: TGP:
http://marketwire.com/news_room/stock?ticker=TGP) and Teekay Offshore Partners L.P. (NYSE: TOO:
http://marketwire.com/news_room/stock?ticker=TOO), its controlling ownership of Teekay Tankers Ltd. (NYSE: TNK:
http://marketwire.com/news_room/stock?ticker=TNK), and its fleet of directly-owned vessels, Teekay is responsible for managing and operating consolidated assets of over $11 billion, comprised of approximately 170 liquefied gas, offshore, and conventional tanker assets. With offices in 16 countries and approximately 6,400 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world's leading oil and gas companies, and its reputation for safety, quality and innovation has earned it a position with its customers as The Marine Midstream Company.

Teekay's common stock is listed on the New York Stock Exchange where it trades under the symbol "TK".

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