ENGlobal Appoints Edward L. Pagano As New Chief Executive Officer; Current CEO Coskey To Remain Chairman Of The Board
ENGlobal Corporation (NASDAQ:ENG), a leading provider of engineering and related project services, announced today that its Board of Directors has selected Mr. Edward L. Pagano to serve as the Company’s new Chief Executive Officer effective May 3, 2010. William A. Coskey, P.E., co-founder and current CEO of ENGlobal, will continue to serve as the Chairman of the Board. As previously reported, ENGlobal’s Board initiated an external CEO search process in December 2009.
Mr. Pagano, 51, served in various positions at WorleyParsons Group Inc. and a predecessor, Parsons E&C Corporation, including as President-Americas from October 2004 to August 2008. Mr. Pagano joined WorleyParsons in 1998 and held the positions of Chief Financial Officer and Chief Operating Officer before being appointed President-Americas.
Prior to joining WorleyParsons, Mr. Pagano held various senior financial positions with The Shaw Group, Aker Kvaerner, URS, and Lurgi Corporation. Most recently, he served as President-Americas at GL Industrial Service, a technical assurance and consulting firm to the energy industry. Mr. Pagano received a B.S. in Accounting from Ramapo College and a M.B.A. in Accounting from Seton Hall University and brings over 30 years experience in growing successful engineering and consulting businesses.
David W. Gent, P.E., ENGlobal’s Lead Independent Director, said, “In making its decision, the Board considered Mr. Pagano’s substantial experience in building client relationships, setting and developing strategy, and executing corporate vision. Throughout his career, Mr. Pagano has accumulated a unique combination of financial, operational, international, and marketing skills at large E&C organizations. We believe Mr. Pagano has the skills and vision to successfully lead ENGlobal going forward.”Mr. Coskey added, “We are pleased to welcome Edd to ENGlobal. As previously reported, our Board, myself included, initiated our CEO search given changes in our industry and expected changes to the Company’s future growth strategy. Edd has an extensive, proven track record in industries we currently serve as well as industries we expect to serve in the future. Speaking on behalf of our senior management team, we look forward to his leadership.”
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