McDermott And CB&I Select Executive Leadership Team For Combined Company

(RTTNews) - McDermott International Inc. (MDR) and Chicago Bridge & Iron Company N.V. (CBI) announced the selection of the executive leadership team and integrated organizational structure of the combined company, which will be effective upon the close of the transaction.

Upon the close of the transaction, the combined company's operations will be organized by four Areas - North, Central & South America or "NCSA", Europe, Africa, Russia & Caspian or "EARC", Middle East & North Africa or "MENA" and Asia Pacific or "APAC".

The Area, Technology and Project Delivery teams will also be supported by centralized Corporate Strategy, Finance, Human Resources, Legal and Communication units.

David Dickson, currently serving as President & Chief Executive Officer for McDermott, will continue in that role for the combined company.

Stuart Spence, currently serving as Executive Vice President & Chief Financial Officer for McDermott, will continue in that role for the combined company.

Richard Heo will become head of North, Central and South America (NCSA) for the combined company; he is currently Executive Vice President, Fabrication Services for CB&I.

Tareq Kawash will become head of Europe, Africa, Russia and the Caspian (EARC) for the combined company; he is currently Group Vice President of Engineering and Construction International for CB&I.

Ian Prescott, currently Vice President, Asia for McDermott, will continue as the head of Asia Pacific (APAC) for the combined company.

Linh Austin will become head of Middle East and North Africa (MENA) for the combined company; he is currently Vice President, Middle East and Caspian for McDermott.

Daniel McCarthy, currently serving as Executive Vice President, Technology for CB&I, will continue as head of Technology for the combined company.

Brian McLaughlin, currently serving as Senior Vice President, Commercial for McDermott, will continue as head of Commercial for the combined company.

Jonathan Kennefick, currently serving as Senior Vice President, Project Execution and Delivery for McDermott, will continue as head of Project Execution and Delivery for the combined company.

Scott Munro will become head of Corporate Development for the combined company; he is currently Vice President, Americas, Europe and Africa for McDermott.

SteveAllen will become head of Human Resources for the combined company; he was previously Senior Vice President, Human Resources for McDermott.

John Freeman, currently serving as Senior Vice President, General Counsel and Corporate Secretary for McDermott, will continue as head of Legal for the combined company.

Gentry Brann, currently Senior Vice President, Global Communications and Brand Management for CB&I, will continue as head of Communications for the combined company.

Tony Brown, currently Vice President, Corporate Strategy & Chief Integration Officer for McDermott, will continue as head of Integration for the combined company.

The combination remains subject to satisfaction of the remaining closing conditions, including clearance under Russian competition laws, approval by McDermott's stockholders and CB&I's shareholders, completion of financing and other customary conditions.

The transaction is currently expected to close in second quarter of 2018.