McDermott Int'l Chairman, CEO Stephen Johnson To Retire - Quick Facts

(RTTNews) - McDermott International, Inc. (MDR) Thursday said Stephen Johnson will retire as the President and Chief Executive Officer of the company, and Chairman of the Board, and as a director of McDermott, effective in December.

David Dickson has been elected to succeed Johnson as President and Chief Executive Officer. Dickson has also been appointed Executive Vice President and Chief Operating Officer, a position he will hold until December.

In his new role, Dickson will initially serve as McDermott's COO, succeeding John McCormack. Dickson will then take over Johnson's position as President and CEO on or before December 16. Concurrent with Dickson's appointment as President and CEO, McDermott's Board of Directors will elect him as a member of the Board.

Dickson has been serving as President of Technip USA Inc., with oversight responsibilities for all of Technip's North American operations. He has approximately 23 years of offshore oilfield engineering and construction business experience.