Aegion Welcomes James Mitchell, Jr. to Board of Directors

Rhea-AI Summary

Aegion Corporation announced the appointment of James Mitchell, Jr. to its Board of Directors, effective immediately. Mitchell brings over two decades of financial and strategic expertise, having served as Chief Investment Officer at General Electric and as a fiduciary of its Pension Trust. This appointment aims to enhance Aegion's leadership in infrastructure solutions and facilitate growth in new markets. Mitchell expressed enthusiasm for joining Aegion, emphasizing the company's innovative technology offerings and strategic vision.

Positive

• Appointment of James Mitchell, Jr. to the Board expected to bring valuable financial and operational expertise.
• Mitchell's background in private equity and hedge funds may strengthen Aegion's strategic initiatives.
• Company aims to aggressively pursue growth in new and existing markets under new leadership.

Negative

• Concerns about continuity in leadership, given the significant experience gap left by the previous board members.

ST. LOUIS, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Aegion Corporation, a leading provider of infrastructure maintenance, rehabilitation, and protection solutions, today announced the appointment of James Mitchell, Jr. to its Board of Directors. Mr. Mitchell, who will also serve as Chair of the Audit Committee, brings decades of financial, operational, governance, and strategic expertise to the company’s Board.

Mr. Mitchell’s extensive career in business, financial services, and government includes over two decades at General Electric, where he served as Chief Investment Officer for a $5 billion portfolio of private equity and hedge funds and a fiduciary of GE’s $40 billion Pension Trust. He also has experience working with the legislative and regulatory components of the federal government on GE’s behalf. Mr. Mitchell brings to Aegion his expertise as a strategic business leader with a proven history of operational excellence and successful growth.

“We are thrilled to welcome James to our board,” said Rob Tullman, President and Chief Executive Officer, Aegion. “James has an impressive track record as a successful leader and sought-after counselor, and his experience will be invaluable as we elevate our industry-leading solutions and aggressively pursue growth in new and existing markets. We look forward to working with James and benefiting from his deep industry experience.”

“I am thrilled to be joining the Aegion team,” said Mitchell. “Aegion’s innovative technology offerings and leadership in the infrastructure space are unparalleled. I am excited to continue to build Aegion’s compelling value proposition and look forward to helping the company execute on its strategic vision.”

Mr. Mitchell is Chairman of the Board of Directors and Chairs the Compensation Committee of Fora Financial. He has also served on the advisory boards of several global private equity firms, including New Mountain Capital, the owner of Aegion. He is the Vice Chairman of the Board of Trustees at Xavier University of Louisiana and sits on the boards of two Washington, D.C., based non-profit organizations, Venture Philanthropy Partners and PartnersGlobal.

Mr. Mitchell is Founder of JMJ Advisors, which advises senior leaders on organic growth, acquisition strategies, financing, and regulatory compliance issues. He holds a Bachelor of Science from Purdue University and an MBA from The Wharton School at the University of Pennsylvania.

About Aegion Corporation
Aegion combines innovative technologies with market-leading expertise to maintain, rehabilitate and strengthen infrastructure around the world. Since 1971, the Company has played a pioneering role in finding transformational solutions to rehabilitate aging infrastructure, primarily pipelines in the wastewater, water, energy, mining and refining industries. Aegion also maintains the efficient operation of refineries and other industrial facilities. Aegion is committed to Stronger. Safer. Infrastructure.^®

More information about Aegion can be found at www.aegion.com.

For more information, contact:
Beth Kerley
Senior Director, Corporate Communications
bkerley@aegion.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/240cc63f-c711-4861-bce4-7ac7c4b636b9

FAQ

What is the significance of James Mitchell's appointment to Aegion's Board of Directors?

James Mitchell's appointment brings decades of financial and operational expertise, enhancing Aegion's strategic direction and growth initiatives.

What experience does James Mitchell have that will benefit Aegion?

Mitchell has extensive experience in financial services, having served as Chief Investment Officer at General Electric, managing a $5 billion portfolio.

When did James Mitchell join Aegion Corporation?

James Mitchell joined Aegion Corporation's Board of Directors on December 14, 2021.

How might Aegion's strategy change with James Mitchell on the Board?

Mitchell's financial acumen and governance experience may shift Aegion's focus towards innovative solutions and aggressive market growth.