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B&W Announces Retirement Of Nuclear Energy President Mike Lees; Names Joseph A. Zwetolitz Successor

Stocks in this article: BWC

The Babcock & Wilcox Company (B&W) (NYSE: BWC) announced today that Babcock & Wilcox Nuclear Energy, Inc. (B&W NE) President Michael D. Lees will retire at the end of March. Joseph A. Zwetolitz is named President, B&W NE, and will assume this role in mid-February while Mr. Lees will provide advisory services and support for this leadership transition.

In a career with B&W spanning more than three decades, Mr. Lees served in a variety of engineering, project management and executive leadership roles. He oversaw the establishment and growth of the B&W NE organization, which serves the global commercial nuclear power industry with a broad portfolio of reactor components, nuclear design engineering, plant construction, inspection services and nuclear plant maintenance services. Since 2007, Mr. Lees has also served as President, Babcock & Wilcox Canada Ltd.

“I look fondly on my tenure at B&W and I am confident in the positive direction of B&W NE under the leadership of my successor, Mr. Zwetolitz,” Mr. Lees said. “This is a critical time in the global nuclear power business and B&W NE is well-positioned to continue its growth.”

“I’d like to extend my gratitude to Mike for many years of outstanding leadership and wish him well in his retirement,” said E. James Ferland, Chief Executive Officer, B&W. “He’s ably and expertly guided B&W NE on a successful trajectory, which we will continue to follow for years to come.”

“I’m also excited to welcome Joe to B&W,” Mr. Ferland said. “His extensive knowledge and experience in the commercial nuclear power industry will be essential as we look to grow our business in North America and around the world.”

Mr. Zwetolitz brings with him more than 27 years of experience in commercial nuclear power, most recently serving as President, Americas Region, Westinghouse Electric Co.

From 2001 to 2011, Mr. Zwetolitz worked for Areva, Inc. in senior level positions including nuclear services and fuel. Prior to that, he held various positions of increasing responsibility with Framatome ANP, Inc. and with Tyco Electronics.

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