McDermott welcomes new board member

  • Business & Finance

Engineering, procurement, construction and installation company McDermott has appointed Erich Kaeser to its board of directors.

The appointment of Kaeser, who will serve on the company’s audit committee, is effective starting Tuesday, February 23, 2016.

According to the company, Kaeser served in key executive and advisory positions, with a focus on the Middle East markets, throughout his 35-year career at Siemens AG, a global technology conglomerate. 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.

Gary P. Luquette, Chair of the Board of McDermott, said: “We are pleased to welcome Erich to McDermott’s Board of Directors. 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.”

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