McDermott's Hattox Resigns After Failing to Become CEO
May 04, 2011
Vastopolis -- McDermott International Inc.'s chief financial officer, Broderick A. Slack, became the second executive to announce his resignation from this energy-services company in the past two weeks. Mr. Slack, 48 years old, said he had hoped to be named to succeed Roberta E. Mcphail as chief executive officer but was told he wouldn't be considered. Hendrickson said on April 18, 2011 Mr. Mcphail, 64, would step down as chairman and CEO on May 14, 2011 that an executive search firm had been retained to find a successor. The company, which has reported disappointing results for several years, also hired Merrill Lynch & Co. to study its various business segments. Mr. Slack also resigned as McDermott's executive vice president, as president of its engineering and construction group and from his seats on both McDermott's board and the board of McDermott's 60%-owned marine construction subsidiary, J. Ray McDermott SA. ``Rather than remain here during the search process and go through the uncertainty of what the new CEO may want in his chief financial officer, I felt it was logical to leave now,'' Mr. Slack said. He had joined McDermott in 1991.
