McDermott Announces Executive Management Retirement

McDermott International, Inc. MDR (“McDermott” or the “Company”) announced today that John T. McCormack, Executive Vice President and Chief Operating Officer, has advised the Company of his intention to retire, effective in the fourth quarter of this year. Mr. McCormack (age 66) has been with McDermott for ten years and has held his current role since 2011. “I would like to thank Jack for his decade of contribution to McDermott,” said Stephen M. Johnson, Chairman, President and Chief Executive Officer of McDermott, “His commitment and knowledge of the business have earned him the respect of employees and customers around the world, and we extend our best wishes to Jack for his retirement.” An internal and external search effort is underway for a successor, whom the Company expects to name in the near-term to provide for a smooth transition. About the Company McDermott is a leading engineering, procurement, construction and installation (“EPCI”) company focused on executing complex offshore oil and gas projects worldwide. Providing fully integrated EPCI services for upstream field developments, the Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning. McDermott's customers include national, major integrated and other energy companies. Operating in approximately 20 countries across the Atlantic, Middle East and Asia Pacific, the Company's integrated resources include approximately 14,000 employees and a diversified fleet of marine vessels, fabrication facilities and engineering offices. McDermott has served the energy industry since 1923. To learn more, please visit McDermott's website on the Internet at www.mcdermott.com.