Dresser-Rand Announces Retirement Plans of CFO Mark Baldwin
Mark E. Baldwin
Dresser-Rand Group Inc. (NYSE: DRC) announced today that Mark E. Baldwin, Executive Vice President and Chief Financial Officer, has elected to retire on or before April 30, 2013. The Company expects to announce Mr. Baldwin's successor in the near-term. In any event, Mr. Baldwin has agreed to devote as much time as necessary to ensure a seamless transition.
Vincent R. Volpe Jr., Dresser-Rand's President and CEO, said, "In 2007 when Mark joined Dresser-Rand he indicated his desire to work for approximately five years prior to retiring. Well, that time has come and we will miss his strong leadership and counsel. Mark has been a key part of the Company's tremendous growth and success, and has built a strong finance team and a disciplined culture that will serve the Company well in the years ahead. We wish Mark a long, enjoyable, and healthy retirement. For me personally it has been a pleasure to work with him."
Mark Baldwin said, "Leading Dresser-Rand's financial team and serving as a member of the Executive Staff during the past five and one-half years of tremendous growth in our company has been an honor for me. I have enjoyed working with outstanding people across our Company. At this time, I want to spend more time with my family and pursue my many interests. Dresser-Rand is an excellent company with a strong financial and leadership team. I believe the Company is extremely well positioned for continued growth and profitability."
Mark Baldwin has held the position with Dresser-Rand since August 24, 2007. Prior to joining Dresser-Rand, his career experience included three years as the Executive Vice President, CFO, and Treasurer with Veritas DGC Inc., a public energy service company which was acquired by the French geophysical firm Compagnie Generale de Geophysique. Other previous experience included two years as Executive Vice President and Chief Financial Officer for NextiraOne, a voice and data products distribution company, and four years as Chairman of the Board and Chief Executive Officer for Pentacon Inc. Mark led Pentacon through an IPO in 1998 and the formation of the Board of Directors and senior leadership team. He also spent 17 years with Keystone International Inc. in a variety of finance and operations positions, including Treasurer, CFO, and President of the Industrial Valves and Controls Group.
Dresser-Rand is among the largest suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. The Company operates manufacturing facilities in the United States, France, United Kingdom, Spain, Germany, Norway, and India, and maintains a network of 49 service and support centers (including 6 engineering and R&D centers) covering more than 150 countries.