Cameron Announces CEO and CFO Succession Plans
December 14 2007 - 4:10PM
PR Newswire (US)
HOUSTON, Dec. 14 /PRNewswire-FirstCall/ -- Cameron's (NYSE:CAM)
Board of Directors has approved succession plans for its chief
executive officer and chief financial officer. Jack B. Moore,
Cameron's current president and chief operating officer, will
become chief executive officer effective April 1, 2008. Cameron's
current chairman and chief executive officer, Sheldon R. Erikson,
will remain the Company's chairman. Erikson was named president and
chief executive officer of the Company in 1995, became chairman,
president and chief executive officer in 1996, and has been the
chairman and chief executive officer since January 2007, when Moore
was elected as president and chief operating officer. Previously,
Moore was a senior vice president of the Company and president of
the Drilling & Production Systems group. In addition, Cameron's
current vice president and corporate controller, Charles M. Sledge,
will become CFO of the Company on April 1, 2008. He will replace
current senior vice president of Finance and chief financial
officer, Franklin Myers, who will become senior advisor to the
Company for financial and M&A matters. Sledge has been vice
president and corporate controller since joining Cameron in 2001.
Myers joined Cameron in 1995 and has been CFO since 2003. Erikson
said that the Company's talent and depth has allowed it to
accomplish these transitions from within and that he expects the
transitions to be seamless, as both he and Myers will remain with
the Company. He went on to say that Moore's and Sledge's years of
experience within the industry and Cameron uniquely qualify them to
take on these new responsibilities and lead Cameron as the Company
continues to grow and execute on delivery of its record backlog.
Cameron will hold a conference call on the morning of Monday,
December 17 at 8:30 a.m. Eastern time (7:30 a.m. Central) to review
the succession plans and respond to questions regarding this
announcement. The call will be available as a webcast on the
Company's website at http://www.c-a-m.com/, or may be accessed by
calling 201-689-8261 approximately ten minutes prior to the
starting time. Cameron (NYSE:CAM) is a leading provider of flow
equipment products, systems and services to worldwide oil, gas and
process industries. Website: http://www.c-a-m.com/ In addition to
the historical data contained herein, this document includes
forward-looking statements regarding future changes in management
made in reliance upon the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The Company's action with
respect to planned management changes could differ from those
described in the forward-looking statements. Such statements are
based on current plans and expectations and are subject to future
events and circumstances, over some of which the Company may have
no control. DATASOURCE: Cameron CONTACT: R. Scott Amann, Vice
President, Investor Relations of Cameron, +1-713-513-3344 Web site:
http://www.c-a-m.com/
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