McDermott Announces Executive Management Retirement

McDermott International, Inc. (“McDermott” or the “Company”) announced that John T. McCormack, Executive Vice President and Chief Operating Officer, has advised the Company of his intention to retire, effective in the fourth quarter of this year. Mr. McCormack (age 66) has been with McDermott for ten years and has held his current role since 2011.

“I would like to thank Jack for his decade of contribution to McDermott,” said Stephen M. Johnson, Chairman, President and Chief Executive Officer of McDermott, “His commitment and knowledge of the business have earned him the respect of employees and customers around the world, and we extend our best wishes to Jack for his retirement.”

An internal and external search effort is underway for a successor, whom the Company expects to name in the near-term to provide for a smooth transition.

Press Release, August 06, 2013