This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
THE WOODLANDS, Texas, June 25, 2014 (GLOBE NEWSWIRE) --
Layne Christensen Company (Nasdaq:LAYN)
("Layne" or the"Company") announced today that the Company's Board of Directors and Rene J. Robichaud have decided upon a transition in leadership. Accordingly, Mr. Robichaud has resigned as the Company's President and Chief Executive Officer, effective immediately.
David A.B. Brown, Layne's non-executive Chairman of the Board, has been appointed to serve in the additional capacities of President and Chief Executive Officer, effective immediately. The Board will engage an executive search firm to identify Mr. Robichaud's successor.
Mr. Brown commented, "The Board is grateful to Rene for his contributions and service to the Company. We remain confident in Layne's future, and view this transition as an opportunity to advance the Company's evolution as a premier solutions provider for the world's toughest water, mineral and energy challenges. The Board will remain actively engaged with Layne's senior management team during the transition process, while remaining focused on hiring an executive to lead Layne in the next phase of its growth and success."
Mr. Brown has been a director of Layne since 2003, and has served as non-executive Chairman of the Board since 2005. He served as Chairman of the Board of Directors of Pride International, Inc. from 2005 until Pride's acquisition by Ensco Plc in 2011, at which time he became a member of the Board of Directors of Ensco Plc. He is also on the board of directors of EMCOR Group, Inc., and from 1984 to 2005 Mr. Brown was president of The Windsor Group, a consulting firm that focused on strategic issues facing oilfield services and engineering companies. He is a Chartered Accountant and CPA, and has over 40 years of energy-related experience.
Layne Christensen Company
Layne is a global water management, construction and drilling company, providing responsible solutions to the world of essential natural resources — water, mineral and energy. We offer innovative, sustainable products and services with an enduring commitment to safety, excellence, and integrity.