Babcock & Wilcox Enterprises, Inc. Announces Board Changes
April 30, 2019 at 04:43 pm EDT
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Babcock & Wilcox Enterprises, Inc. announced that effective as of April 26, 2019, Thomas A. Christopher and Anne R. Pramaggiore each resigned as directors of the Company. The resignation of Mr. Christopher and Ms. Pramaggiore was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. On and effective as of April 26, 2019, the Board appointed Alan B. Howe and Bryant R. Riley to serve as members of the Board. Mr. Howe will serve as a Class II director until the expiration of his term at the annual meeting of shareholders convened in 2020, or his prior death, resignation or removal. Mr. Riley will serve as a Class III director until the expiration of his term at the annual meeting of shareholders convened in 2021, or his prior death, resignation or removal. Each of Messrs. Howe and Riley were appointed to the Board pursuant to B. Riley's nomination rights under the Investor Rights Agreement.
Babcock & Wilcox Enterprises, Inc. is a provider of renewable, environmental and thermal technologies for industrial, electrical utility, municipal and other customers. The Company operates through three segments: Babcock & Wilcox Renewable, Babcock & Wilcox Environmental, and Babcock & Wilcox Thermal. Its Babcock & Wilcox Renewable segment offers technologies for environmentally sustainable power and heat generation, including waste-to-energy, biomass-to-energy and black liquor systems for the pulp and paper industry. Its Babcock & Wilcox Environmental segment provides emissions control and environmental technology solutions for utility, waste-to-energy, biomass-to-energy, carbon black, and industrial steam generation applications around the world. Its Babcock & Wilcox Thermal segment provides steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil and gas, and industrial sectors.