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ShawCor Ltd. Announces Senior Executive Changes

Published on 2005-04-01. Author : SpecialChem

The Board of Directors of ShawCor Ltd. announced that Geoffrey F. Hyland will retire as President and Chief Executive Officer effective June 30, 2005. William P. Buckley, currently Executive Vice President and Chief Operating Officer, will succeed Mr. Hyland as President and Chief Executive Officer. Mr. Hyland will continue to be associated with ShawCor in an advisory role. These changes implement a significant component of ShawCor's succession plan and acknowledge Mr. Hyland's desire to step down after 37 years with the Company.

During Mr. Hyland's tenure, ShawCor has grown to become a global company and the leader in several businesses including Bredero Shaw in the pipe coating segment of the Pipeline Industry. The Company today is entering a period of strong infrastructure investment in pipelines and transportation systems to supply new sources of oil and gas to an energy hungry world. Mr. Buckley will bring a wealth of knowledge and skill to the office of the President and C.E.O. and the Board is confident of Mr. Buckley's ability to carry on the growth tradition for the Company.

Mr. Buckley joined ShawCor in 1994 following 23 years with a leading international electrical/electronics components manufacturer, including five years as President of the Canadian and Australian operations. Appointed Executive Vice President in 1996 and Chief Operating Officer in 2000, he has presided over an excellent record of growth and expansion of the Company's non pipe coating operations. In August 2004, Mr. Buckley also assumed the role of President of Bredero Shaw, taking charge of ShawCor's global pipe coating operations.

Speaking on behalf of the Board of Directors, Mr. Leslie E. Shaw, Chairman, expressed their sincere gratitude to Mr. Hyland for his many years of dedicated service and steadfast leadership to ShawCor and looks forward to his continuing association with the Company. ShawCor Ltd. is an energy services company specializing in products and services for the pipeline, exploration and production and downstream sectors of the energy industry wherever these products and services are required. The Company operates through seven divisions with manufacturing and service facilities located around the world.

This release contains forward looking statements which are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in such statement.

Source: ShawCor Ltd.

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