McDermott International, Inc. (NYSE: MDR) (“McDermott” or the “Company”) announced today that Gary P. Luquette has been elected as non-executive Chairman of McDermott’s Board of Directors, effective May 6, 2014. Mr. Luquette has served as a member of McDermott’s Board of Directors since October 18, 2013. He retired from his position as President, Chevron North America Exploration and Production, a unit of Chevron Corporation, in September 2013, following 35 years of service with Chevron. As previously disclosed and pursuant to the Company’s By-Law requirements, D. Bradley McWilliams will retire from McDermott’s Board of Directors after eleven years of service on May 6, 2014. Mr. McWilliams currently serves as non-executive Chairman of the Board of Directors. The Company also announced the following changes and leadership of McDermott’s Board of Director committees, effective today:
- William H. Schumann, III will serve as Chairman of the Audit Committee
- David A. Trice will serve as Chairman of the Finance Committee
- Steven G. Hanks will serve as Chairman of the Governance Committee
- Mary L. Shafer-Malicki will continue to serve as Chairman of the Compensation Committee
To learn more, please visit McDermott’s website on the Internet at www.mcdermott.com.