MRC Global Announces New Board Chair
MRC Global (NYSE: MRC) has appointed Deborah G. (Debbie) Adams as its new Board Chair, succeeding Robert L. Wood who retired for personal reasons. Adams, who joined the board in 2017, has been serving as chair of the Compensation & Human Capital Committee since 2022. She previously held executive positions at Phillips 66 as senior VP of health, safety and environmental, projects and procurement (2014-2016), and at ConocoPhillips as division president of transportation (2008-2014). The company highlighted her extensive experience in the energy industry and her potential contribution to maximizing shareholder value.
MRC Global (NYSE: MRC) ha nominato Deborah G. (Debbie) Adams come nuovo Presidente del Consiglio, succedendo a Robert L. Wood, che si è ritirato per motivi personali. Adams, che è entrata nel consiglio nel 2017, ha ricoperto il ruolo di presidente del Comitato per le Compensazioni e il Capitale Umano dal 2022. In precedenza ha ricoperto ruoli dirigenziali in Phillips 66 come VP senior di salute, sicurezza e ambiente, progetti e approvvigionamenti (2014-2016), e in ConocoPhillips come presidente della divisione trasporti (2008-2014). L'azienda ha sottolineato la sua vasta esperienza nel settore energetico e il suo potenziale contributo per massimizzare il valore per gli azionisti.
MRC Global (NYSE: MRC) ha nombrado a Deborah G. (Debbie) Adams como nueva Presidenta de la Junta, sucediendo a Robert L. Wood, quien se retiró por motivos personales. Adams, que se unió a la junta en 2017, ha estado sirviendo como presidenta del Comité de Compensación y Capital Humano desde 2022. Anteriormente ocupó puestos ejecutivos en Phillips 66 como vicepresidenta senior de salud, seguridad y medio ambiente, proyectos y adquisiciones (2014-2016), y en ConocoPhillips como presidenta de la división de transporte (2008-2014). La compañía destacó su amplia experiencia en la industria energética y su potencial contribución para maximizar el valor para los accionistas.
MRC Global (NYSE: MRC)는 Deborah G. (Debbie) Adams를 차기 이사회 의장으로 임명하였으며, 이는 개인적인 사유로 은퇴한 Robert L. Wood의 후임이다. Adams는 2017년 이사회의 일원이 되었으며, 2022년부터 보상 및 인적 자원 위원회의 의장직을 맡고 있다. 그녀는 이전에 Phillips 66에서 건강, 안전 및 환경, 프로젝트 및 조달의 선임 부사장(2014-2016)을, ConocoPhillips에서 운송 부문 사장(2008-2014)의 직책을 역임했다. 회사는 에너지 산업에서의 그녀의 방대한 경험과 주주 가치를 극대화하기 위한 그녀의 잠재적 기여를 강조하였다.
MRC Global (NYSE: MRC) a nommé Deborah G. (Debbie) Adams comme nouvelle Présidente du Conseil, succédant à Robert L. Wood qui a pris sa retraite pour des raisons personnelles. Adams, qui a rejoint le conseil en 2017, est présidente du Comité de Rémunération et de Capital Humain depuis 2022. Elle a occupé des postes dirigeants chez Phillips 66 en tant que vice-présidente senior de la santé, de la sécurité et de l'environnement, des projets et des approvisionnements (2014-2016), et chez ConocoPhillips en tant que présidente de la division transport (2008-2014). L'entreprise a souligné son vaste expérience dans le secteur de l'énergie et sa contribution potentielle à la maximisation de la valeur pour les actionnaires.
MRC Global (NYSE: MRC) hat Deborah G. (Debbie) Adams als neue Vorsitzende des Vorstands ernannt, die Robert L. Wood nach dessen Rücktritt aus persönlichen Gründen nachfolgt. Adams, die 2017 in den Vorstand eintrat, ist seit 2022 Vorsitzende des Entschädigungs- und Personal-Komitees. Zuvor hatte sie in der Phillips 66 als Senior VP für Gesundheit, Sicherheit und Umwelt, Projekte und Beschaffung (2014-2016) sowie in der ConocoPhillips als Präsidentin der Transportabteilung (2008-2014) leitende Positionen inne. Das Unternehmen hob ihre umfangreiche Erfahrung in der Energiebranche und ihren potenziellen Beitrag zur Maximierung des Aktionärswerts hervor.
- Board transition executed smoothly with experienced internal candidate
- New Chair brings extensive energy industry executive experience
- Recent successful capital structure improvement through Term Loan B issuance
- Unexpected departure of previous Chairman for personal reasons
Insights
This board chair transition, while orderly, represents a neutral event for MRC Global's immediate business operations and stock performance. The incoming chair, Debbie Adams, brings relevant industry experience from Phillips 66 and ConocoPhillips, particularly in midstream operations and HSE. However, her appointment is unlikely to trigger significant strategic shifts given her existing familiarity with MRC Global as a board member since 2017.
The outgoing chair's contributions to the recent capital structure improvements, including the convertible preferred shares repurchase and Term Loan B issuance, have already been executed. These financial maneuvers remain the more significant factors for investors to monitor rather than this leadership transition.
HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced today that its board of directors has elected Deborah G. (Debbie) Adams as its new Board Chair, effective immediately. She succeeds Robert L. (Bob) Wood, previous Chairman of the Board, who has retired from the board for personal reasons.
Rob Saltiel, President & CEO and board member of MRC Global, stated, "We are excited to announce Debbie Adams as our new Board Chair. Debbie joined our board in 2017 and has been serving as chair of the board’s Compensation & Human Capital Committee since 2022. Debbie’s extensive experience with MRC Global and her deep knowledge of the energy industry will be beneficial to our strategy and our positioning in the marketplace. On behalf of the entire Board, I welcome Debbie as our new Chair and look forward to working with her to maximize value for our shareholders.”
Mr. Saltiel continued, “We thank Bob for his many years of dedicated service to MRC Global and his counsel to the company as board director and Chairman. Among other contributions, Bob played a leadership role in the recent improvement of our capital structure with the repurchase of our convertible preferred shares and the successful issuance of our new Term Loan B. We wish Bob the very best in his future endeavors.”
More About Ms. Adams
From 2014 until 2016, Ms. Adams served on the executive leadership team at Phillips 66 as senior vice president of health, safety and environmental, projects and procurement. From 2008 – 2014, she led the midstream operations of Phillips 66 and ConocoPhillips as the division president of transportation. She has also held various leadership posts including leading the international refining business for ConocoPhillips, serving as general manager of global downstream IT systems and serving on several of ConocoPhillips’ joint venture boards. Ms. Adams served her alma mater, Oklahoma State University, as a member of the foundation board of trustees from July 2012 until June 2020 and continues to serve on the foundation board of governors. In 2014, Ms. Adams was inducted into the Oklahoma State University College of Engineering, Architecture and Technology Hall of Fame. Since May of 2021, Ms. Adams has served as a member of the Advisory Board for the TriCities Chapter of the National Association of Corporate Directors.
About MRC Global Inc.
Headquartered in Houston, Texas, MRC Global (NYSE: MRC) is the leading global distributor of pipe, valves, fittings (PVF) and other infrastructure products and services to diversified end-markets including the gas utilities, downstream, industrial and energy transition, and production and transmission infrastructure sectors. With over 100 years of experience, MRC Global has provided customers with innovative supply chain solutions, technical product expertise and a robust digital platform from a worldwide network of over 200 locations including valve and engineering centers. The company’s unmatched quality assurance program offers over 300,000 SKUs from over 8,500 suppliers, simplifying the supply chain for approximately 10,000 customers. Find out more at www.mrcglobal.com.
Contact:
Monica Broughton
VP, Investor Relations & Treasury
MRC Global Inc.
Monica.Broughton@mrcglobal.com
832-308-2847
FAQ
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