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CB&I appoints new President and CEO

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Hydrocarbon Engineering,

Philip K. Asherman is to retire from his role as President and Chief Executive Officer (CEO) of CB&I, and as a member of the company's Board, effective 1 July 2017.

Patrick K. Mullen will succeed Mr Asherman in this role, effective the same date. Mr Mullen will stand for election to the company's Board in May 2018.

Richard Flury, Non-Executive Chairman of CB&I's Supervisory Board, said: "CB&I's Supervisory Board is grateful for Phil's service and congratulates him on his nearly 12 years of leadership of what has become one of the premier energy infrastructure companies in the world […] We especially appreciate Phil's commitment to succession planning by ensuring that we have an outstanding internal candidate in Pat Mullen to assume the position of CEO. I am confident in Pat's ability to successfully lead CB&I into the future."

Mr Asherman is widely credited for transforming CB&I from a specialty tank subcontractor to a global technology and energy infrastructure corporation. He is also regarded as a leader in safety for the industry and in 2015 was a recipient of the National Safety Council's prestigious Green Cross for Safety award, the first ever received by an engineering and construction company.

In addition, Mr Asherman's dedication to developing new talent included the creation of a global Women's Leadership Network to provide mentoring and focus on career development for women in the industry; a commitment to Veteran training and hiring resulting in employment opportunities for more than 6000 returning servicemen and women over the past three years; and continuing support of Historically Black Colleges and Universities through scholarships, internships and recruitment of graduates for professional and technical opportunities.

Mr Asherman said: "It has been a great honour to lead CB&I for almost 12 years, and I am proud of the many significant accomplishments the company and our employees have made in that time […] Pat has demonstrated tremendous leadership capabilities and has been an active executive partner in maintaining CB&I's standards with our employees and our global energy customers. His technical and business credentials plus over 25 years of industry experience make him the right executive to lead CB&I into the future. I'm confident Pat will bring a fresh perspective on technology and innovation that will drive the company to even greater achievements."

Mr Mullen added: "Phil's leadership has set a strong foundation for the many opportunities we have ahead […] I appreciate the Board's confidence as we work through this challenging cycle in our industry, and I am committed to taking action to ensure the successful execution of our significant backlog of projects. I look forward to working with our many talented employees to further build a culture that enables CB&I to be the most collaborative and innovative partner for our customers around the world."

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