THE WOODLANDS, Texas,
May 3, 2019 /PRNewswire/
-- TETRA Technologies, Inc. ("TETRA" or the "Company") (NYSE:
TTI) announced that the previously reported appointment of
Brady M. Murphy, as Chief Executive
Officer of the Company became effective today, following the
previously announced retirement of Stuart. M. Brightman from his
position as Chief Executive Officer. Mr. Murphy was
previously TETRA's President and Chief Operating Officer and will
retain the role of President.
William D. Sullivan, Chairman of
the Board of TETRA, said, "The Board is pleased to have Brady
elevated from his current positions to be TETRA's Chief Executive
Officer. Since joining TETRA in February of 2018, Brady has
demonstrated the vision, leadership, market knowledge and
operational knowhow to keep TETRA progressing in a direction that
will enhance shareholder value and deliver cost effective and
technologically creative solutions to our customers. The
Board, management team and all our employees thank Stu for his 14
years of dedicated service to TETRA and CSI Compressco. Stu's
leadership was key in re-positioning TETRA with the divestitures of
Maritech and the Offshore Services segment and evolving our fluids,
water management and compression segments, which allowed us to
operate through the recent downturn, each year generating positive
adjusted EBITDA and free cash flow. The onboarding of Brady
and the transition from Stu to Brady has been smooth and consistent
with what Stu and the board worked to achieve. We wish Stu
and his wife, Randi, all the best in retirement."
Mr. Murphy said, "I look forward to continue to further evolve
TETRA to create value for our employees and shareholders. We
have great employees and three strong business segments that are
well positioned in their respective markets. I and the organization
will be focused on having all of our employees operate in a safe
work environment, continue to create innovative and cost-effective
solutions for our customers, and further evolve our Company while
creating value to our shareholders."
Mr. Brightman was re-elected today to TETRA's Board of Directors
for an additional one-year term through May 2020. Mr.
Brightman will continue as a non-executive employee and will be
available to support the board and management team in such
capacity.
Mr. Murphy was also named Chairman of the Board of Directors of
CSI Compressco GP Inc. ("CCGP"), the general partner of CSI
Compressco LP (NASDAQ: CCLP), a partially owned subsidiary of
TETRA, replacing Mr. Brightman following his retirement. Mr. Murphy
has been a member of the CCGP Board since February 21, 2018.
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,
and compression services and equipment. TETRA owns an equity
interest, including all of the general partner interest, in CSI
Compressco LP (NASDAQ:CCLP), a master limited partnership. Visit
the Company's website at www.tetratec.com.
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SOURCE TETRA Technologies, Inc.