Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
HOUSTON, Feb. 22, 2016 -- McDermott International, Inc. (NYSE:MDR) ("McDermott" or the "Company") announced today that Erich Kaeser has been appointed to its Board of Directors, effective February 23, 2016. Mr. Kaeser will serve on the Company’s Audit Committee.
Mr. Kaeser served in key executive and advisory positions, with a strong focus on the Middle East markets, throughout his 35-year career at Siemens AG (“Siemens”), a global conglomerate producing energy-efficient and resource-saving technologies across a variety of industrial sectors. His experience includes Executive Advisor to the Siemens Board and Regional Middle East Management from December 2013 to December 2014, and previously, as Chief Executive Officer, Siemens Middle East, responsible for overseeing the Siemens business in 16 countries, including Saudi Arabia and Qatar, from September 2008 to December 2013. Mr. Kaeser, age 60, holds a Bachelor Degree in Electrical Power Engineering from the Regensburg University of Applied Sciences in Germany.
"We are pleased to welcome Erich to McDermott's Board of Directors," said Gary P. Luquette, Chair of the Board of McDermott. "His extensive executive management and operational experience in the global energy industry, particularly in the Middle East markets, will be an invaluable asset to the Company and will complement the extensive experience of our current Board. The addition of Erich also reflects our strong commitment to ongoing refreshment and succession planning for the Board of Directors. The Board looks forward to working with Erich and to his many contributions."
About McDermott
McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex Offshore and Subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our clients include national and major energy companies. Operating in more than 20 countries across the world, our locally focused and globally integrated resources include approximately 10,600 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923 and is listed on the New York Stock Exchange. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, please visit our website at www.mcdermott.com.
McDermott International, Inc. Investor Relations Kathy Murray V.P., Treasurer and Investor Relations +1.281.870.5147 [email protected] Media Relations Richard Goins Director, Global Communications +1.281.870.5932 [email protected]
