The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that Winfred D. Nash, 66, President of Babcock & Wilcox Nuclear Operations Group, Inc. (B&W NOG) has informed B&W of his retirement, effective April 1, 2011.

“I am proud of the accomplishments we have made over the last several years. Our business has nearly doubled due to organic growth and vertical integration achieved through strategic acquisitions. Additionally, the Lean Six Sigma program, now pervasive throughout B&W, got its start at B&W NOG in an effort to achieve significant cost savings for our primary customer, the U.S. Department of Energy (DOE) and its Naval Nuclear Propulsion Program,” Mr. Nash said. “While I will miss the daily challenge and the great people I have come to know and care for, I look forward to retirement and spending more time with my family.”

“I want to personally thank Winfred for the years of dedicated service and the many contributions he has made to B&W. I wish him the very best in his retirement,” said Mary Pat Salomone, B&W Senior Vice President and Chief Operating Officer.

Mr. Nash’s successor as President of B&W NOG will be Peyton S. (Sandy) Baker, currently Vice President of Programs, Contracts and Central Planning for B&W NOG. Baker will begin transitioning into the position immediately. “Sandy has my full confidence and support as well as that of our CEO, Brandon C. Bethards, the Board of Directors and our DOE customer,” continued Ms. Salomone.

Mr. Baker began his career at what is now B&W NOG in Lynchburg, Va. During his tenure, Mr. Baker has held various positions of increasing responsibility. In his current position, he is responsible for performance of all programs and schedule coordination across the B&W NOG operations. Previously, he was Manager of the Advanced Carrier Program, overseeing the project execution for on-time delivery of the components for the next generation carrier.

Mr. Baker also directed the activities of B&W NOG’s research and test reactor business. He served as President and General Manager of BWXT of Ohio, Inc., responsible for the environmental remediation project for the DOE in Miamisburg, Ohio. Mr. Baker served four years in Cairo, Egypt, as Managing Director of our former subsidiary, Babcock & Wilcox Egypt SAE, and was responsible for the operations and project execution of a B&W joint venture corporation that produced major utility power station components, involving 33 international partners. Prior to his position in Egypt, Mr. Baker served in other leadership positions, including General Manager of one of B&W’s Department of Defense businesses, Engineering Research, Inc. in Indianapolis, Ind.

Mr. Baker attended the U.S. Naval Academy and earned a bachelor of science in mathematics and a master of business in administration from Lynchburg College in Lynchburg, Va.

About B&W NOG B&W NOG manufactures naval nuclear reactors for the U.S. Department of Energy / National Nuclear Security Administration’s Naval Nuclear Propulsion Program, which in turn supplies them to the U.S. Navy for use in submarines and aircraft carriers. Fuel for the reactors is provided by Nuclear Fuel Services, Inc. For more than 50 years, the Navy’s submarines and aircraft carriers have safely steamed more than 140 million miles using components manufactured by B&W NOG facilities - a track record that is highlighted by our commitment to safety, quality and integrity.

About B&W The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 12,000 people, in addition to approximately 10,000 joint venture employees. A company overview presentation, which will be presented at investor conferences and meetings throughout this quarter, is available on the Investor Relations section of our website. For additional information please visit our website at www.babcock.com .

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