McDermott, CB&I lay out management structure of combined company
McDermott International and Chicago Bridge & Iron Company (CB&I) have named the executive leadership team and integrated organizational structure for the combined company.
The changes will be effective upon the close of the $6 billion all share transaction that will see McDermott shareholders own 53 percent of the combined company and CB&I shareholders will own approximately 47 percent.
Upon the close of the transaction, the combined company’s operations will be organized by four areas, the North, Central & South America (NCSA), Europe, Africa, Russia & Caspian (EARC), Middle East & North Africa (MENA) and Asia Pacific (APAC), the joint statement reads.
CB&I’s 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 aims 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), also targets the enhancement of project delivery performance.
The new company will be headed by David Dickson, currently serving as president & CEO for McDermott, who will continue in that role for the combined company.
The transaction is currently expected to close in the second quarter of 2018.