FMC Technologies Inc. and Technip S.A. have announced their respective designees to the Board of Directors of the combined company, TechnipFMC.
The Board of Directors of the combined company will comprise 14 directors (seven from each company). Technip nominated the following: Thierry Pilenko, future Executive Chairman of TechnipFMC and designated Chair of the Strategy Committee, Arnaud Caudoux (Bpifrance designee), Pascal Colombani, Marie-Ange Debon (designated Chair of the Audit Committee), Didier Houssin, John O'Leary, and Joseph Rinaldi.
FMC Technologies nominated the following: Douglas J. Pferdehirt, future Chief Executive Officer of TechnipFMC, Eleazar de Carvalho Filho,Claire S. Farley, Peter Mellbye (designated Chair of the Nominating and Governance Committee), Richard A. Pattarozzi (designated Independent Lead Director), Kay G. Priestly, and James M. Ringler (designated Chair of the Compensation Committee).
FMC Technologies will appoint the initial Independent Lead Director, in accordance with the terms of the Business Combination Agreement. The Board of Directors will have four committees: Audit, Nominating and Governance, Compensation, and Strategy.
The transaction is expected to be completed in early 2017 and is subject to approval by FMC Technologies' and Technip's stockholders, the receipt of required antitrust and regulatory clearances and other customary closing conditions.
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