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8-K - FORM 8-K - GLOBAL INDUSTRIES LTD | h73461e8vk.htm |
EX-10.6 - EX-10.6 - GLOBAL INDUSTRIES LTD | h73461exv10w6.htm |
EX-10.5 - EX-10.5 - GLOBAL INDUSTRIES LTD | h73461exv10w5.htm |
EX-10.2 - EX-10.2 - GLOBAL INDUSTRIES LTD | h73461exv10w2.htm |
EX-10.1 - EX-10.1 - GLOBAL INDUSTRIES LTD | h73461exv10w1.htm |
Exhibit 99.1
For Immediate Release | ||
PRESS RELEASE
|
Contact: Jeff Miller | |
052710.09
|
Tel: +1.281.529.7250 | |
Global Industries Names New Senior Executives
CARLYSS, LOUISIANA (May 27, 2010) Global Industries, Ltd. (NASDAQ: GLBL) (Global) today
announced the appointment of Ashit J. Jain as Chief Operating Officer and James G. Osborn as Chief
Marketing Officer of the Company. In these newly-created positions, Jain and Osborn will report
directly to John B. Reed, Chief Executive Officer. In his role as Chief Operating Officer, Jain
will be responsible for project management, operations, vessel management and engineering
activities across the world. As Chief Marketing Officer, Osborn will be responsible for leadership
and management of all of Globals commercial activities including marketing, business acquisition
and development, proposals and estimating.
The appointment of Ashit Jain and Jim Osborn are a critical part of Globals strategic plans to
become a worldwide provider of deepwater construction and installation projects for the offshore
oil and gas industry, said John Reed, Globals Chief Executive Officer. When we take delivery of
the Global 1200 in September and the Global 1201 late next year, it is imperative that we have the
centralized management and technical expertise to work successfully all around the world. Ashit
Jain and Jim Osborn have the leadership skills and experience to help us win and successfully
execute the complex deepwater installation projects that are key to the Companys future.
Ashit J. Jain, 39, is currently Senior Vice President, Asia Pacific/Middle East and is located in
the Companys Singapore office. Earlier in his career with Global, Jain was responsible for
worldwide estimating and project policies after holding a variety of increasingly responsible
operations, engineering and project management positions. He previously held similar roles with J.
Ray McDermott. Mr. Jain holds a Bachelors Degree in Civil Engineering from the University of Delhi
and earned his MBA at the University of Houstons Bauer College of Business.
-more-
Global Industries
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Page 2 | |
James G. Osborn, 59, joins Global after eight years with IntecSea, a unit of the worldwide
engineering firm of Worley Parsons Limited, where he was most recently Senior Vice President,
Business Development. Earlier in his career, Mr. Osborn spent 17 years with Kellogg Brown & Root
where he held a variety of commercial, business development and operations positions. Mr. Osborn
holds Bachelors and Masters Degrees in Engineering from the Massachusetts Institute of Technology.
Global also announced that Peter S. Atkinson, President, will be retiring from the Company in March
2011. Until that time, Mr. Atkinson will continue to report to Mr. Reed focusing his activities on
implementation of the Companys deepwater strategy and ensuring a smooth management transition as
an advisor to Mr. Reed and the Companys new leadership team.
Global Industries, Ltd. is a leading solutions provider of offshore construction, engineering,
project management and support services including pipeline construction, platform installation and
removal, deepwater/SURF installations, IRM, and diving to the oil and gas industry worldwide. The
Companys shares are traded on the NASDAQ Global Select Market under the symbol GLBL.
This press release may contain forward-looking information based on current information and
expectations of the Company that involve a number of risks, uncertainties, and assumptions. Among
the factors that could cause the actual results to differ materially are industry conditions,
prices of crude oil and natural gas, the Companys ability to obtain and the timing of new
projects, and changes in competitive factors. Should one or more of these risks or uncertainties
materialize, or should the underlying assumptions prove incorrect, actual outcomes could vary
materially from those indicated.
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