B&W Announces Senior Vice President & Chief Operating Officer to Retire; Will remain CEO of B&W-led joint venture for Y-12/Pantex bid
CHARLOTTE, N.C.--(BUSINESS WIRE)-- The Babcock & Wilcox Company (B&W) (NYS: BWC) announced today that Ms. Mary Pat Salomone, Senior Vice President & Chief Operating Officer, will retire effective June 30, 2013, following 31 years of service with the Company. Ms. Salomone will continue serving as Chief Executive Officer (CEO) of Nuclear Production Partners, LLC (NP2), the B&W-led joint venture competing for the U.S. Department of Energy contract to manage and operate the combined Y-12 National Security Complex and Pantex Plant.
"I want to personally thank Mary Pat for her long-term service and leadership with the Company," said E. James Ferland, President and CEO. "Mary Pat's experience and vision as a leader have helped drive critical business initiatives that have contributed to our Company's overall growth.
"We have been planning for Mary Pat to assume the NP2 role for a while," said Ferland, "and therefore are well-positioned for a smooth transition. As a result of this change, the business unit presidents will report directly to me."
During her tenure with B&W, Ms. Salomone held roles of increasing responsibility, including a number of critical senior leadership positions within Babcock & Wilcox Power Generation Group, Inc. and Babcock & Wilcox Nuclear Operations Group, Inc. She also served as President and CEO of Marine Mechanical Corporation from 2001 through 2007 at which time the company was acquired by B&W.
A graduate of Youngstown State University, Ms. Salomone was recognized with the institution's Outstanding Alumni Award from the College of Science, Technology, Engineering and Math. She was also selected by the Manufacturing Institute and the Society of Manufacturing Engineers to receive the 2013 Women in Manufacturing STEP Award, which recognizes women and their achievements within manufacturing organizations. Ms. Salomone serves on the Board of Directors of TransCanada Corporation and the Naval Submarine League. She is a member of the Advisory Board for the School of Engineering at the University of Akron and the Advisory Board for the College of Science, Technology, Engineering and Mathematics at the Youngstown State University.
Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 14,000 people, in addition to approximately 10,400 joint venture employees. Learn more atwww.babcock.com.
Cautionary Statement Regarding Forward Looking Statements
B&W cautions that this release contains forward-looking statements, including statements relating to the plans expressed regarding the leadership of NP2.These forward-looking statements involve a number of risks and uncertainties, including, among other things, the ability and willingness of Ms. Salomone to serve as CEO of NP2.If one or more of these or other risks materialize, actual results may vary materially from those expressed.For a more complete discussion of these and other risk factors, please see B&W's filings with the Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
The Babcock & Wilcox Company
Aimee E. Mills, Communications Manager, 980-365-4583
Jenny L. Apker, Vice President, Treasurer and Investor Relations, 704-625-4937
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