McDermott International, Inc. (“McDermott” or the “Company”) has named D. Bradley McWilliams as its non-executive Chairman of McDermott’s Board of Directors effective upon the retirement of Stephen M. Johnson as McDermott’s Chairman of the Board on December 31, 2013. Mr. McWilliams will serve as non-executive Chairman through the Company’s annual meeting on May 6, 2014.
Mr. McWilliams has served as a member of McDermott’s Board of Directors since 2003 and was appointed as Lead Director in 2011. He is Chairman of the Finance Committee and serves on the Audit Committee. Mr. McWilliams also serves as a member of the Board of Directors of The Babcock and Wilcox Company.
“I am looking forward to working closely with the Board and Mr. McWilliams to serve the Company and its shareholders. Mr. McWilliams’ industry experience and his tenure on the Board of Directors will help ensure an orderly transition,” said David Dickson, currently McDermott’s Executive Vice President and Chief Operating Officer. As previously announced, on or before December 16, 2013, Mr. Dickson will be appointed as McDermott’s President and Chief Executive Officer, and concurrently with such appointment, will be elected as a member of the Board of Directors.
Press Release, November 22, 2013