8-KLeadership Changes

TechnipFMC plc 8-K Report, Executive Changes (Jan 9, 2019)

Filed January 9, 2019For Securities:FTI

Summary

TechnipFMC plc (FTI) has announced a significant leadership transition following its 2019 Annual General Meeting. Thierry Pilenko, the Executive Chairman, will retire from the Board of Directors effective May 1, 2019. Mr. Pilenko played a crucial role in leading Technip prior to the merger and then in ensuring a smooth integration and continuity at TechnipFMC, particularly on major projects like Prelude FLNG and Yamal LNG. His retirement marks the culmination of his long tenure leading the company through substantial growth and strategic integration. Following Mr. Pilenko's retirement, the leadership of TechnipFMC will transition. Doug Pferdehirt, currently the CEO, will assume the additional responsibilities of Chairman of the Board, effective May 1, 2019. Concurrently, Pascal Colombani, an existing director, will be appointed as Lead Independent Director. This planned transition indicates a continuation of current leadership and a focus on established governance structures as the company moves forward.

Key Highlights

  • 1Thierry Pilenko, Executive Chairman, will retire from the Board of Directors effective May 1, 2019.
  • 2Mr. Pilenko's retirement follows the successful integration of TechnipFMC and the completion of key projects (Prelude FLNG, Yamal LNG).
  • 3Doug Pferdehirt, current CEO, will assume the role of Chairman of the Board starting May 1, 2019.
  • 4Pascal Colombani, a current director, will be appointed Lead Independent Director effective May 1, 2019.
  • 5The leadership transition is scheduled to occur after the company's Annual General Meeting.
  • 6The Board of Directors expressed gratitude to Mr. Pilenko for his vision, leadership, and friendship.

Frequently Asked Questions

Thierry Pilenko is retiring from the Board of Directors, effective May 1, 2019, as he has decided to retire after the company's Annual General Meeting. His retirement comes after a successful integration period for TechnipFMC and the completion of significant projects, fulfilling the mandate for continuity he was appointed for.

Doug Pferdehirt, who is currently the CEO of TechnipFMC, will assume the role of Chairman of the Board, effective May 1, 2019.

Pascal Colombani will be appointed Lead Independent Director, effective May 1, 2019. This role is important for corporate governance, providing an independent voice and leadership for the board's independent directors, especially during times of leadership transition.

The leadership changes, including Mr. Pilenko's retirement and the appointments of Mr. Pferdehirt as Chairman and Mr. Colombani as Lead Independent Director, will be effective May 1, 2019, following the company’s Annual General Meeting.