John T. Nesser, III Named Chief Operating Officer of J. Ray McDermott
14 August 2008 - 5:00PM
Business Wire
McDermott International, Inc. (NYSE:MDR) (�McDermott� or the
�Company�) announced today that John T. Nesser, III has been
elected Executive Vice President and Chief Operating Officer of the
Company�s subsidiary, J. Ray McDermott, S.A. (�J. Ray�), effective
October 1, 2008. In this newly created role, Nesser will be
responsible for the oversight of all of McDermott�s Offshore Oil
& Gas Construction segment�s global operations. Nesser brings
to his new role 35 years of experience, predominantly within the
offshore oil and gas construction industry. He has served on the
Board of Directors of J. Ray McDermott since January 2000 actively
engaged in its strategy, operations and management, while
simultaneously providing significant contributions to McDermott,
including orchestrating the successful resolution of The Babcock
& Wilcox Company�s six-year reorganization, all litigation in
connection therewith, and actively participating in the resolution
of the major operational and legal matters associated with the
Company during the last ten years. �We are indebted to John for his
service to McDermott at the Corporate level,� said Bruce W.
Wilkinson, Chairman of the Board and Chief Executive Officer of
McDermott. �This move and alignment of the J. Ray organization
strengthens its leadership team for the long term and fortifies our
succession process.� �I am pleased to have John bring his extensive
knowledge and talents to J. Ray on a full-time, day-to-day basis,�
said Bob Deason, President and Chief Executive Officer of J. Ray
McDermott, S.A. �John has served on our board since my arrival and
I�ve benefited from his insight, expertise and knowledge of the
offshore construction industry. In this new role, he will be
instrumental in ensuring continued operational excellence
throughout our global business.� Since joining McDermott in October
1998, Nesser has served the Company in roles of increasing
responsibility. Most recently, Nesser served as McDermott�s
Executive Vice President, Chief Administrative and Legal Officer,
responsible for all administrative and legal functions of the
Company, including human resources, administration, benefits, risk
management, information technology and legal, since January 2007.
Prior to his tenure with McDermott, Nesser served as a founding and
managing partner of a New Orleans, LA energy-focused law firm
founded in 1985. McDermott is an engineering and construction
company, with specialty manufacturing and service capabilities,
focused on energy infrastructure. McDermott�s customers are
predominantly utilities and other power generators, major and
national oil companies, and the United States Government. With its
global operations, McDermott operates in over 20 countries with
more than 25,000 employees.
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