Oceaneering Appoints Two New Members to Its Board of Directors
Oceaneering International (NYSE:OII) has appointed two new independent directors, Ms. Karen H. Beachy and Dr. Kavitha Velusamy, to its Board. Ms. Beachy, with over 25 years in corporate strategy and operations in the energy sector, joins as a Class II director and will serve on the Compensation Committee. Dr. Velusamy, a technology expert with 20 years in robotics, becomes a Class III director, joining the Audit Committee. Their expertise is expected to enhance Oceaneering's focus on technology solutions for energy transition and remote operations.
- Addition of experienced board members with backgrounds in energy and technology.
- Karen Beachy's extensive experience in corporate strategy can boost growth initiatives.
- Kavitha Velusamy's expertise in robotics aligns with Oceaneering's technology focus.
- Potential concerns regarding the continuity and experience gaps on the board.
HOUSTON, Jan. 27, 2021 /PRNewswire/ -- Oceaneering International, Inc. (NYSE:OII) today announced that Ms. Karen H. Beachy and Dr. Kavitha Velusamy have joined Oceaneering's Board of Directors as independent, non-executive directors in Classes II and III, respectively. Ms. Beachy's and Dr. Velusamy's initial terms of office extend until Oceaneering's Annual Meeting of Shareholders in 2021 and 2022, respectively. Ms. Beachy has been appointed to the Compensation Committee of the Board and Dr. Velusamy has been appointed to the Audit Committee of the Board.
Ms. Beachy has over 25 years of corporate strategy, operations management and consulting experience with energy and utilities businesses. Most recently, Ms. Beachy served in the planning, innovation and supply-chain leadership of Black Hills Corporation, a South Dakota-based natural gas and electric utility, from 2014 until December 2020, culminating in her role as Senior Vice President, Growth and Strategy. Prior to that time, Ms. Beachy's career included over 15 years in strategic planning, operations management and consulting with other energy and utilities businesses, including Vectren Corporation and LG&E-Kentucky Utilities, and her own consulting firm. Ms. Beachy holds a Bachelor of Arts in Political Science and a Master of Science in Management, both from Purdue University.
Dr. Velusamy has over 20 years of experience in telepresence and robotics technology development and delivery. Currently she serves as Vice President, Software Engineering for Leia, Inc., a display technology company spun off from Hewlett Packard Labs, which she joined in July 2020. She began her career with Motorola India in 1999 and, during the course of her career, has been recognized for her contributions to a variety of transformative technologies, including for Amazon, Bossa Nova Robotics, Cisco Systems, iMerit and NVIDIA. Dr. Velusamy holds a Bachelor of Engineering and a Master of Engineering in Electronics and Communication Engineering from the College of Engineering, Guindy of Anna University and a Doctor of Philosophy in Signal Processing from the Indian Institute of Science, Bangalore.
John R. Huff, Oceaneering's Chairman of the Board, stated, "We are very pleased to welcome Ms. Beachy and Dr. Velusamy to Oceaneering's Board. Our continuing development and delivery of technology-focused solutions supporting energy transition and remote operations that enhance job safety and reduce environmental impacts are strengthened by their knowledge and experience. Each brings deep and diverse expertise that is significant and meaningful to Oceaneering's operations and strategic vision."
Oceaneering is a global provider of engineered services and products, primarily to the offshore energy industry. Through the use of its applied technology expertise, Oceaneering also serves the defense, aerospace and entertainment industries.
For more information on Oceaneering, please visit www.oceaneering.com.
Contact:
Mark Peterson
Vice President, Corporate Development and Investor Relations
Oceaneering International, Inc.
713-329-4507
investorrelations@oceaneering.com
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SOURCE Oceaneering International, Inc.
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