TechnipFMC To Separate Into Two Publicly Traded Companies - Quick Facts

(RTTNews) - TechnipFMC plc (FTI) said its Board has approved its plan to separate the company into two publicly traded companies: one a fully-integrated technology and services provider; and the other an engineering and construction player. The technology and services provider will remain incorporated in the UK with headquarters in Houston and listed on both the NYSE and Euronext Paris exchange. The company anticipates to complete the separation in the first half of 2020.

Catherine MacGregor, currently TechnipFMC's President, New Ventures, will be appointed as CEO of the E&C player. Bruno Vibert will be appointed as CFO, and Marco Villa will serve as COO. The SpinCo will be incorporated in the Netherlands with its headquarters in Paris and listed on the Euronext Paris exchange.