HOUSTON--(BUSINESS WIRE)--Feb. 27, 2004--Hanover Compressor
Company (NYSE:HC), a global market leader in full service natural gas
compression and a leading provider of service, fabrication, and
equipment for oil and natural gas processing and transportation
applications, today announced that Mark Berg, Senior Vice President
and General Counsel, plans to leave the company in the near future to
pursue other business interests.
"Mark joined Hanover as a senior officer at a time when the
company was faced with serious challenges, playing a critical role in
the transition of our company and management team," remarked Victor
Grijalva, Hanover's Chairman of the Board. "Mark led the team that
successfully saw Hanover through resolution of the shareholder
litigation and settlement with the Securities and Exchange
Commission."
"We are disappointed to lose Mark, but fully understand his desire
to take on a new challenge," commented Chad Deaton, President and
Chief Executive Officer of Hanover. "Mark's determination, knowledge,
integrity and drive were instrumental in helping to resolve many of
the company's issues and to place us on a more solid base to build
from in the future. We appreciate Mark's willingness to work with us
to identify a capable successor and assure a smooth transition. On
behalf of management and the Board of Directors, we extend our best
wishes to Mark knowing he will be highly successful in his future
endeavors."
Commenting on his decision to leave Hanover, Berg stated, "I
appreciate the opportunity to contribute during my time at Hanover and
would like to extend my thanks to Messrs. Deaton, Grijalva, Brumley
and the other members of the Board for their leadership and support. I
am also extremely proud of the professionals who worked with me to
build the company's first Legal Department and extend my gratitude for
their success and hard work."
Mr. Berg joined Hanover in May 2002 after having served as
Executive Vice President and General Counsel of American General
Corporation from 1997 and until its merger with American International
Group in 2001.
About Hanover Compressor
Hanover Compressor Company (www.hanover-co.com) is a global market
leader in full service natural gas compression and a leading provider
of service, fabrication and equipment for oil and natural gas
processing and transportation applications. Hanover sells and rents
this equipment and provides complete operation and maintenance
services, including run-time guarantees for both customer-owned
equipment and its fleet of rental equipment. Founded in 1990 and a
public company since 1997, Hanover's customers include both major and
independent oil and gas producers and distributors as well as national
oil and gas companies.
CONTACT: Hanover Compressor Company, Houston
Lee Beckelman, 281-447-8787
SOURCE: Hanover Compressor Company