THE WOODLANDS, Texas,
Feb. 12, 2018 /PRNewswire/
-- TETRA Technologies, Inc. ("TETRA" or the "Company")
(NYSE:TTI) today announced the appointment of Brady M. Murphy as President and Chief Operating
Officer, effective immediately. He reports to Stuart M. Brightman, Chief Executive Officer,
and succeeds him as President.
"We are excited to have Brady join our leadership team," said
Stuart M. Brightman, TETRA's Chief
Executive Officer. "Brady brings to TETRA the proven ability
to execute growth and performance strategies, while always focusing
on continuous improvement of operations, customer and employee
relationships, profitability, and shareholder value. We
believe his wealth of global energy services and executive
experience will be valuable to increasing our competitive position
and our growth and development into the future."
"I'm honored to join Stu and the TETRA team at this important
time," Mr. Murphy stated. "The company has shown resilience
through some challenging times for the industry and now is well
positioned for growth. I am excited to work with the TETRA
leadership team to build upon our strong foundation and further
leverage innovation and technology to achieve global excellence and
strong financial performance."
Mr. Murphy has more than 35 years of global operations,
engineering, manufacturing and business development experience in a
variety of areas within the energy industry, including deepwater,
mature fields and unconventional assets.
Most recently, Mr. Murphy served as Chief Executive Officer for
Paradigm Group B.V., a private company based in The Netherlands that is focused on strategic
technologies for the upstream energy industry. Prior to this
role, he served as part of the Halliburton Company executive
management team in the position of Senior Vice President of
Business Development and Marketing. His previous executive
positions at Halliburton Company included: Senior Vice President
Europe/Sub-Saharan Africa Region; Vice President Sperry Drilling
Services; Vice President of Supply Chain and Management Systems;
Vice President of Global Manufacturing; and Director, Product Sales
Division.
Mr. Murphy earned a Bachelor of Science in Chemical Engineering
from Pennsylvania State University, and
is a graduate of the Harvard Business
School's Advanced Management Program. He is an active
member of the Society of Petroleum Engineers and served as
co-chairman of the 2010 SPE Intelligent Energy conference and
Exhibition.
In accordance with NYSE requirements, the Company hereby
discloses that its Board of Directors has authorized the grant to
Brady Murphy of an employment
inducement award of 502,513 shares of restricted stock, such grant
to be effective on February 12, 2018,
the date Mr. Murphy commenced employment with the Company.
Conditioned upon his continued employment with the Company, 50% of
the shares of the restricted stock will vest on the first
anniversary of the grant date of the award, 25% of the shares of
the restricted stock will vest on the second anniversary of the
grant date of the award, and 25% of the shares of the restricted
stock will vest on the third anniversary of the grant date of the
award. If Mr. Murphy's employment is terminated by the
Company for reasons other than termination of him for cause or if
Mr. Murphy resigns for good reason prior to the first anniversary
date of the award, 50% of the shares of restricted stock granted
under the award will immediately vest, and the remaining shares
granted under the award will be forfeited.
Company Overview
TETRA is a geographically diversified oil and gas services
company, focused on completion fluids and associated products and
services, water management, frac flowback, production well testing,
offshore rig cooling, compression services and equipment, and
selected offshore services, including well plugging and
abandonment, decommissioning, and diving. TETRA owns an
equity interest, including all of the general partner interest, in
CSI Compressco LP (NASDAQ:CCLP), a master limited partnership.
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SOURCE TETRA Technologies, Inc.