B&W Restructures Government Operations; Names Peyton S. Baker to Lead
March 28 2014 - 3:12PM
Business Wire
The Babcock & Wilcox Company (B&W) (NYSE:BWC) has
announced a restructuring of its government operations. Effective
immediately, the Babcock & Wilcox Nuclear Operations Group,
Inc. (NOG), its subsidiary operations at Nuclear Fuel Services, and
the Babcock & Wilcox Technical Services Group, Inc. (TSG) will
operate under a single leader, naming Peyton S. (Sandy) Baker as
President and Chief Operating Officer (COO).
“Consolidating these operations under a single leader helps us
to better leverage the synergies that exist between our government
nuclear business and our management and operations initiatives,”
said E. James Ferland, President and Chief Executive Officer of
B&W. “The restructuring also provides for greater efficiencies
that will result in cost savings to B&W and our customer."
“I am confident in Sandy’s ability to lead this broader
organization,” said Ferland. “With more than 40 years of service
with B&W, Sandy has a proven track record of success and has
built an enormous amount of credibility both within the company and
with our customer and other external stakeholders.”
In addition to Mr. Baker’s appointment, Kenneth R. Camplin is
named Vice President and Chief Business Development Officer for
B&W’s government operations. Charles G. (Chuck) Spencer, will
serve as COO of TSG, leading the business’ day-to-day operations.
Mr. Camplin and Mr. Spencer will both report to Mr. Baker.
About B&WHeadquartered in Charlotte, N.C., The
Babcock & Wilcox Company is a leader in clean energy technology
and services, primarily for the nuclear, fossil and renewable power
markets, as well as a premier advanced technology and mission
critical defense contractor. B&W has locations worldwide and
employs approximately 12,000 people, in addition to approximately
10,200 joint venture employees. Learn more at www.babcock.com.
Cautionary Statement Regarding Forward Looking
StatementsB&W cautions that this release contains
forward-looking statements, including statements regarding
management plans for our government operations and expected cost
savings. These forward-looking statements involve a number of risks
and uncertainties, including, among other things, the risk that the
restructuring will not achieve the expected level of cost savings
and efficiencies. If these or other risks materialize, actual
results may vary materially from those expressed. For a more
complete discussion of these and other risk factors, please see
B&W's filings with the Securities and Exchange Commission,
including our annual report on Form 10-K for the year ended
December 31, 2013. B&W cautions not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this release, and undertakes no obligation to update or revise
any forward-looking statement, except to the extent required by
applicable law.
The Babcock & Wilcox CompanyMedia
Contact:Aimee Mills, Media Relations Lead,
980-365-4583aemills@babcock.comorInvestor Contact:Jenny
Apker, Vice President, Treasurer and Investor Relations,
704-625-4937investors@babcock.com