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McDermott chief executive resigns unexpectedly

11 June 2021 | By GCR Staff | 0 Comments

David Dickson has resigned from his role as chief executive of US contractor McDermott, with current independent board director Lee McIntire stepping in immediately as interim CEO.

Dickson has been with McDermott since 2013. The company did not specify a reason for his resignation.

McIntire joined McDermott's Board of Directors in July 2020 and was previously chief executive of CH2M Hill and Terrapower and had served on Bechtel’s board for 15 years.

McDermott has also announced that Samik Mukherjee has been appointed to executive vice president and chief operating officer, he was previously working as McDermott's senior vice president of projects.

In January 2020 McDermott announced plans to file for chapter 11 bankruptcy, a restructuring move that the firm said would eliminate $4.6bn of debt, with exit financing amounting to $2.4bn and $500m in funded, long-term debt.

Nils Larsen, McDermott’s lead director, said: [McIntire] brings extensive experience leading successful engineering and construction firms and will work closely with McDermott's executive leaders. McDermott has outstanding capabilities, resources, and talent, and we are confident in the Company's future.

“I also want to thank David for his service and wish him the very best.”

Lee McIntire, said: “I have admired McDermott's project execution and customer focus for years and was pleased to join the Board last year. I have confidence in the organisation and am committed to staying focused on safety, efficiency, the environment, and our customers.”

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