Management Actions“As a management team, we are taking immediate and decisive actions to correct the weakness we have experienced in our project bidding and execution,” said Stephen M. Johnson, Chairman of the Board, President and Chief Executive Officer of McDermott. “We are driving a more disciplined culture within the Company, and we expect our operating leadership change announced separately today will add focus and urgency to our intentions. Although these problematic projects are expected to require some time to fully work through the system, the initiatives listed below reinforce our commitment to delivering an adequate return on our investors’ capital.”
McDermott Reports Second Quarter 2013 Financial Results
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