The Supervisory Board of Directors of CB&I (The Woodlands; www.cbi.com) announced that it has approved the retirement of Philip K. Asherman from his role as President and Chief Executive Officer of CB&I and as a member of the company’s Board effective July 1, 2017. The Board also announced the appointment of Patrick K. Mullen to President and Chief Executive Officer, effective the same date. Mr. Mullen will stand for election to the company’s Board in May 2018.
“CB&I’s Supervisory Board is grateful for Phil’s service and congratulates him on his nearly 12 years of leadership of what has become one of the premier energy infrastructure companies in the world,” said L. Richard Flury, Non-Executive Chairman of CB&I’s Supervisory Board. “We especially appreciate Phil’s commitment to succession planning by ensuring that we have an outstanding internal candidate in Pat Mullen to assume the position of CEO. I am confident in Pat’s ability to successfully lead CB&I into the future.”
“It has been a great honor to lead CB&I for almost 12 years, and I am proud of the many significant accomplishments the company and our employees have made in that time,” said Mr. Asherman. “Pat has demonstrated tremendous leadership capabilities and has been an active executive partner in maintaining CB&I’s standards with our employees and our global energy customers. His technical and business credentials plus over 25 years of industry experience make him the right executive to lead CB&I into the future. I’m confident Pat will bring a fresh perspective on technology and innovation that will drive the company to even greater achievements.”
Mr. Mullen, 52, was named Chief Operating Officer of CB&I in 2016. Previously, he served as Executive Vice President and President of CB&I’s Engineering & Construction operating group, where he was responsible for all engineering and construction for CB&I’s worldwide operations. He joined CB&I in 2007 through the company’s acquisition of Lummus Global and has worked in operational and commercial leadership roles throughout the company with global responsibility for corporate strategy, as well as serving as a key interface with CB&I’s shareholders. Mr. Mullen currently serves on Vectren Corporation’s board of directors. He holds a bachelor’s degree in chemical engineering from the University of Notre Dame and a master’s degree in business administration from Northwestern University’s Kellogg School of Management.
“Phil’s leadership has set a strong foundation for the many opportunities we have ahead,” said Mr. Mullen. “I appreciate the Board’s confidence as we work through this challenging cycle in our industry, and I am committed to taking action to ensure the successful execution of our significant backlog of projects. I look forward to working with our many talented employees to further build a culture that enables CB&I to be the most collaborative and innovative partner for our customers around the world.”