McDermott Appoints Ian Prescott as VP, Asia

1/7/18

HOUSTON, Jan. 05, 2018 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) today announced Ian Prescott as Vice President, Asia, effective January 8, succeeding Hugh Cuthbertson who announced plans to retire from the Company. Ian will also be a member of McDermott’s Executive Committee.

“Ian has a wealth of experience and knowledge in the upstream sector that will help us to grow our business in Asia. He is a strategic, high performing leader that understands the challenges and opportunities and is committed to finding the best solutions for our customers,” said David Dickson, President and Chief Executive Officer of McDermott. “I thank Hugh for his nearly four decades of unrivaled service to McDermott in the oil and gas industry and we are grateful for his leadership over the years.”

Prior to this appointment, Ian was Senior Vice President and Director of Asia Pacific for SNC-Lavalin, a global, fully-integrated professional services and project management company. He also served as the Managing Director and General Manager and later as the CEO of Global Process Systems. He has held key leadership positions with PAE (Thailand) PLC and Aker Kvaerner.

Ian has more than 28 years of extensive operational, marketing and business unit responsibilities for production and processing solutions in the upstream oil and gas sector, including engineering and fabrication.

Ian holds a Master of Business Administration from Bond University in Australia and a bachelor’s degree in Instrumentation Control Engineering (Honors) from the University of Teeside in the United Kingdom.

About the Company

McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,000 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, please visit our website atwww.mcdermott.com.

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