THE WOODLANDS, Texas, Nov. 15, 2011 /PRNewswire/ -- TETRA Technologies, Inc. (TETRA or the Company) (NYSE: TTI) today announced that it has appointed Peter J. Pintar to the position of Senior Vice President, Corporate Strategy and Development. Working with TETRA's executive management team, Mr. Pintar will be responsible for advancing the Company's strategy and driving growth initiatives.
Stuart M. Brightman, TETRA's President and Chief Executive Officer, stated, "We are extremely pleased to welcome Peter Pintar as a member of our management team. Peter brings to TETRA a record of significant achievement and expertise in mergers and acquisitions, strategic planning and new business development, as well as broad international experience. Peter most recently served as vice president, corporate strategy and development at Smith International where, during his five-year tenure, he led initiatives that resulted in substantial growth for the company.
"In the newly created position of Senior Vice President, Corporate Strategy and Development at TETRA, Peter will focus on sharpening our corporate strategy. Working with our management team, he will identify new growth opportunities and lead our merger and acquisition negotiations and our business integration efforts. Peter will be reporting directly to me," concluded Mr. Brightman.
In accordance with the New York Stock Exchange Listed Company Manual, Section 303A.08, "Shareholder Approval of Equity Compensation Plans," the Company hereby discloses that its Board of Directors has authorized the grant to Peter J. Pintar of an employment inducement award of 40,585 shares of restricted stock, effective November 15, 2011. The restricted stock will vest 33.3334% on the first anniversary date of the award and will vest an additional 16.6667% each six months thereafter.TETRA is a geographically diversified oil and gas services company focused on completion fluids and other products, production testing, wellhead compression, and selected offshore services including well plugging and abandonment, decommissioning, and diving.