Message to Shareholders
Doyon hosted another successful annual meeting of shareholders on March 18 in Fairbanks. Our quorum was several percentage points higher than in recent years; thank you to all those who voted in our annual election.
Re-elected to the board were Miranda Wright and Sonta Hamilton Roach. Joining the Doyon board of directors are Jerry Isaac and Brian Ridley. We also said goodbye to Lee DeWilde and Shirley Cleaver and want to thank them for their service to Doyon and our shareholders.
The executive leadership of the board is Wally Carlo, chair; PJ Simon, Jr., vice chair; Miranda Wright, treasurer; and Chris Simon, secretary. I look forward to another successful year of working with and implementing the direction of the board.
During the annual meeting, I was proud to report on fiscal year 2015, which saw Doyon’s highest operating income in our history. I was also pleased to report on another strong year for shareholder employment and wages. The construction of Rig 142 was completed on time and under budget; we acquired a new information technology company, designData; and we were successful in securing wireless spectrum bids in Auction 97. Much of Doyon’s success is due to the diversity of our business lines and the hard work of our employees.
Doyon is prepared to face challenges in 2016, but we still expect to have another strong and profitable year. Doyon Drilling has two stacked rigs, but because of Rig 142, we have been able to keep many of our shareholder-employees working. The current situation with oil prices is very different than where we were last year, but because of our diversification, we fully expect to have the second-best year in our financial history.
Alaska’s fiscal situation will certainly impact residents, communities, tribes and state services. Doyon is working with legislators to preserve funding in rural Alaska so that when cuts are made, they don’t disproportionately affect the rural residents. I encourage you to stay informed and to contact your legislators to express your concerns.
Thank you for your continued support of Doyon and its employees.
Aaron M. Schutt
President & CEO