Michael Baker Says Mallory Steps Down as CEO; Creates Office of Chief Executive
Michael Baker Corporation (NYSE MKT:BKR) announced today that, at the request of its Board of Directors, Bradley L. Mallory has stepped down as president and chief executive officer and director of the Company, effective immediately. The Company has created an Office of the Chief Executive, composed of Michael J. Zugay, chief financial officer, and H. James McKnight, chief legal officer, to lead the Company on an interim basis. Supporting this office will be an Operations Committee consisting of senior operating executives representing the Company's business segments. The Board has designated Dr. Robert N. Bontempo, lead independent director, to provide oversight.
The Board of Directors will retain an executive search firm to assist it in conducting a national search for a successor. The Board does not intend to place any limitations on the search, which will include internal candidates, and intends to identify the most highly qualified candidate in a timely manner.
Mr. Zugay joined Baker in 2009 as executive vice president and chief financial officer. He previously was senior vice president and chief financial officer of iGate Corporation, and prior to that served as president and chief executive officer of Bliss-Salem, Inc. Mr. McKnight joined Baker in 1995 as vice president, general counsel and secretary. In 2000, he was named executive vice president and continues to serve as the Company's chief legal officer.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.