Team, Inc. Announces CEO Amerino Gatti to Assume Role of Chairman of the Board
February 25 2020 - 4:15PM
Team, Inc. (NYSE: TISI), a global leading provider
of integrated, digitally-enabled asset performance assurance and
optimization solutions, announced today that Louis A. Waters has
elected to step down as Chairman of the TEAM Board of Directors,
and, by a unanimous vote of the Board of Directors, Amerino Gatti
will assume the role of Chairman, in addition to his current role
as Chief Executive Officer, effective immediately. The Company also
announced that the Board of Directors has appointed Mr. Waters as
Lead Independent Director.
Mr. Gatti has served as Chief Executive Officer
and a member of the Board since January 2018, when he joined the
company. Prior to joining TEAM, he served as an Executive Officer
and President of the Production Group at Schlumberger Limited. Over
his 25-year career at Schlumberger, Mr. Gatti served in a variety
of roles of progressing leadership responsibility including,
President - Well Services, VP Production Group - North America, VP
& General Manager - Qatar GeoMarket, Global VP Sand Management
Services, and VP Marketing & Sales - North America. Earlier in
his Schlumberger career, he held field operations, engineering and
human resources positions around the world, including North
America, South Asia and the Middle East. Mr. Gatti holds a B.S. in
Mechanical Engineering from the University of Alberta,
Canada.
“It has been my pleasure to serve as Chairman of the Board and I
look forward to my continued involvement as independent lead
director,” said Mr. Waters. “Under Amerino’s strong leadership,
TEAM has led many successful initiatives, including an integration
and transformation program that has streamlined operations and
established a strategic plan for long-term growth. These
companywide initiatives have resulted in significant improvements
to our cash flow and overall financial performance. On behalf of
the Board, we are confident that Amerino’s leadership in the
combined role of Chairman of the Board and Chief Executive Officer
will continue to have a positive impact on the Company’s
future.”
“I am honored to assume this important role for
TEAM and want to thank my fellow directors for the trust they have
placed in me and our leadership team,” said Mr. Gatti. “I will
continue to build on our positive momentum by focusing on our
highest priorities: the safety of our employees, leveraging our
differentiated portfolio and talented people in close collaboration
with our clients, and creating value for our shareholders. We
remain committed to strengthening our balance sheet and positioning
the company for long-term success – and I look forward to advancing
these priorities in my added role as Chairman.”
In the lead independent director role, Mr.
Waters will perform the duties outlined in the Company’s Corporate
Governance Principles. These duties include serving as a liaison
between the independent directors and the Chairman; approving
agendas for board meetings; presiding over meetings and executive
sessions of the independent directors; and leading the Board’s
annual evaluation of the Chief Executive Officer. TEAM’s Corporate
Governance Principles are available in the Investors section of our
website at www.teaminc.com.
About Team, Inc.
Headquartered in Sugar Land, Texas, Team Inc.
(NYSE: TISI) is a global leading provider of integrated,
digitally-enabled asset performance assurance and optimization
solutions. We deploy conventional to highly specialized inspection,
condition assessment, maintenance and repair services that result
in greater safety, reliability and operational efficiency for our
client’s most critical assets. Through locations in more than 20
countries, we unite the delivery of technological innovation with
over a century of progressive, yet proven integrity and reliability
management expertise to fuel a better tomorrow. For more
information, please visit www.teaminc.com.
Contact:Susan BallEVP, Chief Financial Officer and
Treasurer(281) 388-5521
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