McDermott and CB&I announce executive leadership for combined company

Upon the close of the transaction, the combined company’s operations will be organised by four ‘Areas’ – North, Central & South America (NCSA), Europe, Africa, Russia & Caspian (EARC), Middle East & North Africa (MENA) and Asia Pacific (APAC) – to encourage collaboration, drive excellence in execution and promote robust growth. CB&I’s Technology business will remain a tier-one market facing offering. The Areas and technology divisions will be supported by centralised commercial and project delivery organisations.

The integration of commercial, including the centralisation of the company’s bidding functions, will improve customer interactions, allocation of resources, consistency of approach and risk management of new contracts. The centralisation of project delivery, including project management and controls, engineering, supply chain, marine, fabrication, construction, and quality, health, safety, environment and security (QHSES), will also significantly enhance project delivery performance.

The Area, technology and project delivery teams will be supported by centralised corporate strategy, finance, human resources, legal and communication units.

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 2Q18.

Under this new structure, the global executive leadership team will include:

• David Dickson, currently serving as President and CEO for McDermott, will continue in that role for the combined company.
• Stuart Spence, currently serving as Executive Vice President and Chief Financial Officer for McDermott, will continue in that role for the combined company.
• Richard Heo will become head of NCSA for the combined company; he is currently Executive Vice President, Fabrication Services for CB&I.
• Tareq Kawash will become head of 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 APAC for the combined company.
• Linh Austin will become head of 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.
• Steve Allen 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 and Chief Integration Officer for McDermott, will continue as head of Integration for the combined company.

Read the article online at: https://www.hydrocarbonengineering.com/special-reports/14032018/mcdermott-and-cbi-announce-executive-leadership-for-combined-company/