Shaw Announces Organizational Changes
BATON ROUGE, La.--(BUSINESS WIRE)-- The Shaw Group Inc. (NYSE: SHAW) today announced the following organizational changes:
Clarence Ray, who previously served as chief executive officer of Shaws Power Group, will join Shaws corporate management team as corporate vice president. In his new role, Mr. Ray will partner with Shaws Environmental & Infrastructure Group to pursue global opportunities to support infrastructure in the mining industry. Mr. Ray also will lead the establishment of a new Shaw office in Arizona. Mr. Ray has worked in many aspects of power generation throughout his 41-year career. Before joining Shaw in 2007, Mr. Ray served in various positions of increasing responsibility during a 36-year career at Duke Energy. During that time, Mr. Ray served nine years as the president and chief executive officer of Duke/Fluor Daniel, a multi-billion dollar international engineering and construction partnership company. Mr. Ray also oversaw day-to-day operations of a power generation, transmission and distribution system for a very large mining operation in Indonesia expanding that system with the addition of a 200 MW coal-fired plant. He also oversaw the design and construction of a similar system at a separate new mining operation in Indonesia.
Eli Smith has been promoted in his position as president of Shaws Power Group to oversee all responsibilities for Shaws work in the fossil, nuclear and renewable power industries. Mr. Smith will be responsible for overseeing all aspects of Shaws Nuclear Division, Fossil Division and Plant Services Division. Mr. Smith joined Shaw in 2009 as senior vice president of procurement for the Power Group. Most recently, he served as chief of operations for Shaws Power Group, where he held responsibility for project execution and operational excellence for all of Shaws Power and Plant Services projects. With more than 35 years of experience in engineering, procurement and project execution, Mr. Smith previously served as principal vice president and corporate manager of contracts and procurement for Bechtel Corp. and held several senior management positions with the U.S. Army Corps of Engineers.
Remi Bonnecaze has been named chief operating officer of Shaws Fabrication & Manufacturing Group, where he will oversee the business groups global operations. Since joining Shaw in 1994, Mr. Bonnecaze has played a number of significant roles, including his most recent role as senior vice president of international operations for the Fabrication & Manufacturing Group, as well as previous business development roles. He has more than 30 years experience in the construction and fabrication industry with a strong background in contract negotiation, business setup and management, business development and operations management, particularly in international business and transactions. He previously worked with Performance Contractors, Inc. and United Crafts, Inc., a company acquired by Shaw.
Rusty Brown has been named corporate vice president with responsibility for expanding new business initiatives throughout the company, as well as maintaining key client relationships. Joining Shaw in 1995, he previously served in Shaws Power Group as vice president of key clients and also as vice president of business development, where he managed business development activities, focusing on the Middle East. With more than 25 years of experience in heavy industrial petrochemical and power construction business, Mr. Brown previously was a partner at Merit Industrial and Merit Environmental, a company acquired by Shaw.
We believe these changes will strengthen our business development strategies both domestically and internationally and further improve our operational excellence. Clarence has been instrumental in leading the Power Group in its major projects and initiatives, and we now look to his leadership to help position Shaw to capture opportunities in the mining industry ranging from feasibility studies to large-scale, engineering and construction services, said J.M. Bernhard Jr., Shaws chairman, president and chief executive officer. Eli has played a critical role in Shaws Power Group since he joined the company and has demonstrated his ability to manage all aspects of the business. Under Elis proven exemplary leadership skills, I am confident the Power Group will continue to grow and provide unmatched expertise and operational excellence to clients in the power industry.
With notable industry experience, Remi will continue to be an asset in growing our fabrication and manufacturing business and maintaining Shaws industry leadership as one of the largest worldwide suppliers of fabricated piping systems, continued Mr. Bernhard. With more than 15 years of service with Shaw, Rusty consistently has demonstrated his ability to bring in and manage major projects both domestically and internationally. He has played a key role in the growth and success of Shaws Power Group, and we expect he will be able to apply his expertise and experience to strategic opportunities for the entire company.
The Shaw Group Inc. (NYSE: SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2011 annual revenues of $5.9 billion, Shaw has approximately 27,000 employees around the world and is a power sector industry leader according to Engineering News-Records list of Top 500 Design Firms. For more information, please visit Shaws website at www.shawgrp.com.
Photos are available upon request.
This press release contains forward-looking statements and information about our current and future prospects and our operations and financial results, which are based on currently available information. The forward-looking statements include assumptions about our operations, such as cost controls and market conditions, that may not be realized. Actual future results and financial performance could vary significantly from those anticipated in such statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events or otherwise.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed under Item 1A Risk Factors in our Annual Report on Form 10-K for the fiscal year ended August 31, 2011, our Quarterly Reports on Form 10-Q for the quarters ended November 30, 2011, and February 29, 2012, and other reports filed with the Securities and Exchange Commission (SEC). Please read our Risk Factors and other cautionary statements contained in these filings.
As a result of these risks and others, actual results could vary significantly from those anticipated in this press release, and our financial condition and results of operations could be materially adversely affected.
The Shaw Group Inc.
Gentry Brann, 225-987-7372
Source: The Shaw Group Inc.Copyright Business Wire 2012