Texas-based LNG engineer CB&I said Monday that Patrick Mullen has assumed the role as the company’s Chief Executive, completing the previously announced transition plan.
Patrick Mullen takes over as president and CEO of CB&I following the retirement of Philip Asherman after serving the company for 12 years as Chief Executive.
“It is an honor to have been chosen to lead CB&I,” said Mullen. “While I recognize this is a challenging cycle for our industry, I have a great deal of confidence in CB&I’s employees and capabilities and in our ability to create long-term value for all of our stakeholders.
To best position CB&I going forward, Mullen said the company would be taking “decisive action” in several areas. This includes strengthening the company’s balance sheet, further enhancing the risk management and execution standards and increased innovation and collaboration with CB&I’s customers.
“Actions in these areas will build on CB&I’s many existing strengths. We look forward to sharing more detail on these actions and CB&I’s strategic direction in the coming months,” Mullen added.