McDermott and CB&I Announce Organizational Structure for Future Combined Company
“The plans announced today are important steps to position the combined company to build a common culture, better serve our customers, become more competitive and drive long-term growth,” said McDermott President and Chief Executive Officer David Dickson, who will lead the combined company. “I’m looking forward to being joined by an experienced leadership team comprised of extraordinary talent from both organizations and the wider energy industry. Together we will be well positioned to maximize our proven ability to control risk in bidding and deliver excellence in project execution in a cost-efficient delivery structure. We will partner with our customers to provide integrated, end-to-end solutions – from the wellhead to the storage tank – that deliver the quality, efficiency and dependability needed to keep their businesses growing.” Upon the close of the transaction, the combined company’s operations will be organized 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 industry-leading Technology business will remain a tier-one market facing offering. The Areas and Technology divisions will be supported by centralized Commercial and Project Delivery organizations. The integration of Commercial, including the centralization of the company’s bidding functions, will improve customer interactions, allocation of resources, consistency of approach and risk management of new contracts. The centralization of Project Delivery, including Project Management & Controls, Engineering, Supply Chain, Marine, Fabrication, Construction, and Quality, Health, Safety, Environment & Security (“QHSES”), will also significantly enhance project delivery performance. The Area, Technology and Project Delivery teams will also be supported by centralized Corporate Strategy, Finance, Human Resources, Legal and Communication units. Under this new structure, the global executive leadership team will include:
- David Dickson, currently serving as President & Chief Executive Officer for McDermott, will continue in that role for the combined company.
- Stuart Spence, currently serving as Executive Vice President & Chief Financial Officer for McDermott, will continue in that role for the combined company