Keith Tucker Appointed as Chief Executive Officer at Team, Inc.
November 29 2022 - 4:45PM
Team, Inc.’s (NYSE: TISI) (“TEAM” or the
“Company”) Board of Directors (“Board”) has unanimously appointed
Keith Tucker as Chief Executive Officer effective as of November
22. Mr. Tucker had been serving as interim Chief Executive Officer
since March 2022.
"We are pleased to announce Keith’s appointment
as Chief Executive Officer. With his strong operational background
and extensive knowledge of our client base, Keith is the right
person to lead Team," said Michael Caliel, non-executive Chairman
of Team, Inc.'s Board of Directors. "Over the last eight months as
Interim CEO, Keith has taken decisive actions to improve financial
results and enhance liquidity while establishing the groundwork for
further performance improvement. Keith is a well-respected leader
with detailed knowledge of the business, an employee-focused
leadership style, and the trust and support of our employees,
clients, stakeholders and the Board. On behalf of all of our Team
colleagues, we congratulate Keith and look forward to improved
growth, profitability and shareholder returns under his
leadership."
Keith Tucker, Team’s CEO said, "I am excited to
accept the role of TEAM’s Chief Executive Officer. At Team, we are
committed, first and foremost, to being a great service company,
earning the trust and confidence of our customers with safe,
effective, and consistently high-quality service. With an
outstanding group of experienced and talented colleagues across the
globe who are laser-focused on solving customer problems, I
have confidence in our ability to accelerate growth, boost margins
and improve free cash flow to further strengthen our balance
sheet."
Mr. Tucker joined TEAM in 2005 and prior to
being appointed Interim Chief Executive Officer, served as the
President of TEAM’s largest Segment, Inspection & Heat
Treating, a role he held since early 2021. Mr. Tucker has
held key leadership roles across both the Inspection & Heat
Treating and Mechanical segments, including Executive Vice
President - North Division, Executive Vice President - Mid
Continent Division, and Vice President - Great Lakes Region. Mr.
Tucker has 33 years of industry experience, including various
positions with Citgo and BP Amoco supporting process, safety and
inspection functions.
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.
Certain forward-looking information contained
herein is being provided in accordance with the provisions of the
Private Securities Litigation Reform Act of 1995. The Company has
made reasonable efforts to ensure that the information,
assumptions, and beliefs upon which this forward-looking
information is based are current, reasonable, and complete.
However, such forward-looking statements involve estimates,
assumptions, judgments, and uncertainties. All statements other
than statements of historical or current fact included in this
report are forward-looking statements including but not limited to
statements concerning the Company’s financial prospects and the
implementation of cost saving measures. Many factors could cause
actual results or outcomes to differ materially from those
addressed in the forward-looking information. Although it is not
possible to identify all of these factors, they include, among
others, the impact of negative market conditions, including
inflation, foreign exchange rate fluctuations, volatility in the
financial and credit markets, and future economic uncertainties,
particularly in industries in which we are heavily dependent; the
impact of the ongoing conflict in Ukraine; the duration and
magnitude of accidents, extreme weather, natural disasters, and
public health crises (such as COVID-19) and related economic
effects, the Company’s liquidity and ability to obtain additional
financing, the Company’s ability to execute on its cost management
actions, the impact of new or changes to existing governmental laws
and regulations and their application, including tariffs
requirements; the outcome of tax examinations, changes in tax laws,
and other tax matters; foreign currency exchange rate and interest
rate fluctuations; the Company’s ability to successfully divest
assets on terms that are favorable to the Company; the Company’s
ability to repay, refinance or restructure its debt and the debt of
certain of its subsidiaries; anticipated or expected purchases or
sales of assets; the Company’s continued listing on the New York
Stock Exchange; and such known factors as are detailed in the
Company’s Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K, each as filed with the
Securities and Exchange Commission, and in other reports filed by
the Company with the Securities and Exchange Commission from time
to time. Accordingly, there can be no assurance that the
forward-looking information contained herein, including statement
regarding the Company’s financial prospects and the implementation
of cost saving measures, will occur or that objectives will be
achieved, and actual results may differ materially from those that
are expected. We assume no obligation to publicly update or revise
any forward-looking statements made today or any other
forward-looking statements made by the Company, whether as a result
of new information, future events or otherwise, except as may be
required by law.
Contact:Nelson M.
HaightExecutive Vice President, Chief Financial Officer(281)
388-5521
Team (NYSE:TISI)
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