Appoints Ernie L. Danner President and Chief Operating Officer
HOUSTON--(BUSINESS WIRE)--Exterran Holdings, Inc. (NYSE:EXH) today announced the appointment
of Ernie L. Danner as President and Chief Operating Officer, effective
October 8, 2008. Mr. Danner will have responsibility for all company
operations worldwide, and will report to Stephen A. Snider, Chief
Executive Officer and a director of Exterran. Mr. Danner is expected
to assume the role of Chief Executive Officer upon the planned
retirement of Mr. Snider by the end of June 2009.
Mr. Danner served as Executive Vice President in positions of
increasing responsibility with Universal Compression Holdings, Inc.
from 1998 through August 2007, when Universal merged with Hanover
Compressor Company to form Exterran. He began with Universal as Chief
Financial Officer in 1998, and then became President of Universal's
Latin America division in 2002, President of Universal's International
Division in 2005 and ultimately Chief Operating Officer of Universal
in 2006. He also served as a director of Universal during that period,
and became a director of Exterran upon completion of the merger. Mr.
Danner will continue to serve as a director of Exterran.
"We are delighted to have Ernie in the role of President and Chief
Operating Officer," said Steve Snider. "Ernie brings a unique
combination of industry operating experience and financial acumen,
which I am confident will add value to the Company."
"Joining Exterran's outstanding group of employees is a great
opportunity," said Ernie Danner. "I am excited to become a part of the
Exterran team and welcome the opportunity to contribute to Exterran's
future success. I look forward to working with Steve and the rest of
the Exterran organization as we seek to enhance shareholder value with
our expanded product and service lines, healthy financial position and
attractive long-term growth opportunities."
Prior to joining Universal, Mr. Danner served as Senior Vice
President and Chief Financial Officer of MidCon Corp., an interstate
pipeline company and wholly owned subsidiary of Occidental Petroleum
Corporation. From 1988 until 1997, Mr. Danner served as Vice
President, Chief Financial Officer and a director of INDSPEC Chemical
Company. Mr. Danner is also a director of Copano Energy, LLC and
Horizon Lines, LLC.
"Ernie's prior relationship with the Exterran management team and
employee base -- currently as a director, and formerly as COO and
director of Universal Compression Holdings -- makes him uniquely
qualified as an incoming President," said Gordon T. Hall, Chairman of
the Board. "We are pleased to welcome Ernie, and to outline a strong
succession plan for the Company. Steve's plan to retire next June
follows a successful and unsurpassed, nearly 30-year career in the
natural gas and compression industry, which has included senior
management positions at Tidewater Compression, Universal and
Exterran."
Forward-Looking Statements
All statements in this release (and oral statements made regarding
the subjects of this release) other than historical facts are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements rely on a number of assumptions concerning future events
and are subject to a number of uncertainties and factors, many of
which are outside the control of Exterran Holdings (the "Company"),
which could cause actual results to differ materially from such
statements. Forward-looking information includes, but is not limited
to, statements regarding the succession plan described in this press
release and the timing thereof, the Company's ability to enhance
shareholder value, the Company's future financial position and growth
opportunities of the Company and the Company's future success.
While the Company believes that the assumptions concerning future
events are reasonable, it cautions that there are inherent
difficulties in predicting certain important factors that could impact
the future performance or results of its business. Among the factors
that could cause results to differ materially from those indicated by
such forward-looking statements are: actions taken by the Company's
board of directors and management; conditions in the oil and gas
industry, including a sustained decrease in the level of supply or
demand for oil and natural gas and the impact on the price of oil and
natural gas; the Company's ability to timely and cost-effectively
obtain components necessary to conduct the Company's business; changes
in political or economic conditions in key operating markets,
including international markets; and changes in safety and
environmental regulations pertaining to the production and
transportation of oil and natural gas.
These forward-looking statements are also affected by the risk
factors, forward-looking statements and challenges and uncertainties
described in Exterran Holdings' Annual Report on Form 10-K for the
year ended December 31, 2007, as amended by Amendment No. 1 thereto,
and those set forth from time to time in the Company's filings with
the Securities and Exchange Commission, which are currently available
at www.exterran.com. Except as required by law, the Company expressly
disclaims any intention or obligation to revise or update any
forward-looking statements whether as a result of new information,
future events or otherwise.
About Exterran Holdings
Exterran Holdings, Inc. is a global market leader in full service
natural gas compression and a premier provider of operations,
maintenance, service and equipment for oil and gas production,
processing and transportation applications. Exterran Holdings serves
customers across the energy spectrum--from producers to transporters
to processors to storage owners. Headquartered in Houston, Texas,
Exterran and its over 10,000 employees have operations in more than 30
countries. For more information, visit www.exterran.com.
Source: Exterran Holdings, Inc.