McDermott names non-executive Chairman of the Board

McDermott International, Inc. announced today that Gary P. Luquette has been elected as non-executive Chairman of McDermott’s Board of Directors, effective May 6, 2014.

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,:

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

“I would like to thank Mr. McWilliams for his leadership and many valuable contributions to the Company over the past eleven years,” said David Dickson, President and Chief Executive Officer. “I look forward to working with Mr. Luquette closely to leverage his extensive managerial and operational experience in upstream oil and gas.”

 

Press Release, April 23, 2014

 

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