Forum Energy Technologies Announces Appointment of Paul E. Rowsey III to Its Board of Directors

Rhea-AI Summary

Forum Energy Technologies (NYSE: FET) has appointed Paul E. Rowsey III to its Board of Directors, expanding the board to nine members. Mr. Rowsey is an experienced leader, formerly serving as Executive Chairman of JLB Partners and Non-Executive Chairman of Valaris plc. His diverse background in financial and legal matters is expected to enhance the board's oversight capabilities. Chairman Cris Gaut emphasized the importance of diversity on the board, noting that with Mr. Rowsey's appointment, one-third of the board is now comprised of members from under-represented categories.

Positive

• Paul E. Rowsey III brings extensive financial and legal expertise to the Board.
• Increased board diversity aligns with goals to maximize shareholder value.

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• None.

HOUSTON--(BUSINESS WIRE)-- Forum Energy Technologies, Inc. (NYSE: FET) today announced the appointment of Mr. Paul E. Rowsey III to its Board of Directors. Mr. Rowsey will also serve as a member of the Compensation Committee. In connection with Mr. Rowsey’s appointment, the Board increased its size to nine directors.

Mr. Rowsey is the former Executive Chairman of the Board of JLB Partners, a national developer, builder and manager of Class A multi-family assets in select markets in the United States. He previously served as Non-Executive Chairman of Valaris plc, a publicly traded offshore drilling contractor, and its predecessor, Ensco plc. Mr. Rowsey was formerly the Chief Executive Officer of Compatriot Capital, and a founder and the managing partner of E2M Partners, LLC, a sponsor and manager of private real estate equity funds. Mr. Rowsey continues to serve as Chairman of E2M. Mr. Rowsey is a graduate of Duke University and Southern Methodist University School of Law, and he is a citizen of the Cherokee Nation.

Cris Gaut, FET’s Chairman of the Board, remarked, “I am pleased to welcome Mr. Rowsey to FET’s Board as an independent director. Mr. Rowsey brings a fresh perspective to our Board, has expertise in financial and legal matters, and a proven track record as a business executive and public company director. FET’s Board has focused on achieving gender and racial diversity among its members to ensure the highest quality of oversight as we seek to maximize shareholder value. With Mr. Rowsey’s appointment, one-third of the Board is now comprised of members of under-represented categories on public company boards.”

FET (Forum Energy Technologies) is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005243/en/

Lyle Williams

Executive Vice President and Chief Financial Officer

713.351.7920

Lyle.Williams@f-e-t.com

Source: Forum Energy Technologies, Inc.

FAQ

Who is Paul E. Rowsey III and what is his role at Forum Energy Technologies?

Paul E. Rowsey III has been appointed to Forum Energy Technologies' Board of Directors and will also serve on the Compensation Committee.

How many members are on Forum Energy Technologies' Board after the recent appointment?

With Paul E. Rowsey III's appointment, the Board of Forum Energy Technologies has increased to nine members.

What experience does Paul E. Rowsey III bring to the Board of Forum Energy Technologies?

Mr. Rowsey has a proven track record as a business executive and public company director, including leadership roles at JLB Partners and Valaris plc.

What is the significance of board diversity for Forum Energy Technologies?

Board diversity is emphasized to enhance oversight and maximize shareholder value, with one-third of the board now comprising under-represented members.