Calfrac Well Services Ltd. (TSX: CFW) appointed Scarlett Crockatt as chief financial officer effective April 9, 2026. Crockatt succeeds Mike Olinek, who is retiring from the Calgary-based company.

Crockatt brings over 15 years of experience in capital markets, strategic finance and governance. She previously held senior leadership roles at Roynat Capital, a subsidiary of Scotiabank, and Scotiabank Corporate & Investment Banking. Her experience includes advising boards and management teams on capital allocation, mergers and acquisitions, liquidity management and risk oversight across multiple sectors.

Crockatt holds an MBA from Queen's University and a Bachelor of Commerce from the University of Calgary. She is a Chartered Professional Accountant and an Institute-certified director.

"We are excited to announce Scarlett as Calfrac's new CFO. As we enter our next phase, her expertise and fresh perspectives will strengthen Calfrac's leadership team and support the Company's focus on delivering value for all stakeholders," said Tyler Dahlseide, chief executive officer.

Olinek served with the company for nearly 20 years. "Mike provided steady leadership during challenging times, and we wish him all the best in his future endeavors," Dahlseide said.

The CFO transition is part of broader measures focused on optimizing Calfrac's leadership structure and operational efficiency. The company expects to incur certain one-time costs to facilitate the transition, which will be reflected in future financial disclosures.

The information is based on a company press release statement.