McDermott International, Inc. (NYSE:MDR) ("McDermott" or the "Company") announced today that William H. Schumann, III has been appointed to its Board of Directors, effective September 24, 2012. Mr. Schumann will also serve on the Company’s Audit and Governance Committees.
Mr. Schumann retired from FMC Technologies, Inc., a leading provider of subsea technology solutions to the energy industry and products for other industrial markets, in August 2012, following over 30 years of service. During his distinguished career with FMC, Mr. Schumann held positions of increasing responsibility, including serving over 10 years as Chief Financial Officer.
Mr. Schumann, age 62, graduated from The University of California, Los Angeles with a Bachelor of Science degree in engineering and from the University of Southern California with a Master of Science degree in management science. He also serves on the boards of directors of Avnet, Inc. (NYSE: AVT), an industrial distributor of electronic components and products, and AMCOL International Corporation (NYSE: ACO), an international producer and marketer of value-added, specialty mineral and related products.
"We are pleased to welcome Bill to McDermott's Board of Directors," said Stephen M. Johnson, Chairman of the Board, President and Chief Executive Officer of McDermott. "His operational and financial experience in the global energy industry will be an asset, particularly as we increase our emphasis in the worldwide subsea industry. The Board looks forward to working with Bill and to his many contributions."In addition, the Company announced today that it has accepted the resignation of Thomas C. Schievelbein from McDermott’s Board of Directors. Mr. Schievelbein resigned from his Directorship due to increased demands on his time as a result of his recent appointment as chairman of the board, president and chief executive officer of The Brink’s Company. Ms. Mary Shafer-Malicki, a McDermott director since 2011, will replace Mr. Schievelbein as Chair of the Company’s Compensation Committee.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV