Oceaneering International, Inc., a provider of engineered services and products, primarily to the offshore oil and gas industry, has announced that Marvin J. Migura has decided to step down from his position as Executive Vice President (EVP) effective December 31, 2015.
Oceaneering said in a press release issued on Monday that Migura would continue to serve as a Senior Vice President (SVP), reporting to Chief Executive Officer (CEO) M. Kevin McEvoy, and remain a part of the executive management team at least through the end of 2016.
Migura joined Oceaneering in 1995 as SVP and Chief Financial Officer (CFO) and was appointed to the position of EVP in 2011.
“During his tenure, he has contributed significantly to the improvements in financial performance Oceaneering has achieved as evidenced by a compound annual growth rate in revenue of 15% and net income of 25% through 2014,” the company has said in a press release.
McEvoy, CEO, said: “Marvin has been an integral member of the executive leadership team at Oceaneering since he joined the company. I truly enjoy working with him and look forward to his continued involvement in the company’s strategic decision-making process and in investor relations. Furthermore, Marvin’s gradual move toward retirement will help assure a smooth transition to our recently announced senior-level management changes.”
The company added that coincident with Migura’s role change, Alan R. Curtis, SVP and CFO, and Eric A. Silva, SVP Operations Support, would report directly to the CEO.