HOUSTON--(BUSINESS WIRE)--Mar. 19, 2013--
Exterran Holdings, Inc. (NYSE: EXH) today announced that its Board of
Directors has nominated D. Bradley Childers, President and Chief
Executive Officer of Exterran Holdings, Inc., William M. Goodyear,
Executive Chairman of the Board and retired Chief Executive Officer of
Navigant Consulting, Inc., and John P. Ryan, retired President and Chief
Executive Officer of Dresser, Inc., for election to the Exterran
Holdings Board of Directors at the Company’s 2013 Annual Meeting of
Stockholders on April 30, 2013. Uriel E. Dutton, who has served as a
director since 2001, and William C. Pate, who has served as a director
since 2007, will no longer serve on the Board after the 2013 Annual
Meeting.
Exterran also announced that the Board has appointed Mark R. Sotir to
become Executive Chairman of the Board and Gordon T. Hall to become Vice
Chairman of the Board and lead independent director, each effective
April 30, 2013.
“We are pleased about the nominations of Brad Childers, Bill Goodyear
and John Ryan,” said Gordon Hall, Chairman of the Board. “Each of them
brings different, but significant business experience and perspective,
which we believe will enable them to make meaningful contributions to
the Board.”
“Uriel Dutton and Bill Pate have been valued members of the Board, and
on behalf of the entire Board of Directors, I thank them for their
numerous contributions to Exterran,” said Mr. Hall. “We will miss them
both and wish them continued success.”
Mr. Hall continued, “I am proud of the significant progress that
Exterran's employees have made toward improving the Company's
performance. As Executive Vice Chairman of Exterran, Mark Sotir’s role
on the Board and with the Company’s management team contributed to this
progress. The combination of this experience and knowledge of the
Company with his prior experience in executive roles across a variety of
industries make him well-qualified to assume the role of Executive
Chairman.”
Mr. Sotir added, “This is an exciting time as Exterran continues
focusing on growth opportunities for our products and services in global
energy markets, as well as improving the profitability of our businesses
to enhance our competitive position. I look forward to continuing to
work with the Board and the management team as we seek to provide
value-added solutions to our customers and improved returns to our
stockholders. On behalf of the Board, I also want to thank Gordon for
his years of service as Chairman of Exterran. Gordon will bring
leadership and integrity to the lead independent director position.”
About D. Bradley Childers
Mr. Childers has served as President and Chief Executive Officer of
Exterran Holdings, Inc. since December 2011, and as President, Chief
Executive Officer and Chairman of the Board of Exterran GP LLC, the
managing general partner of Exterran Partners, L.P., a master limited
partnership in which Exterran Holdings owns an equity interest, since
December 2011, after having served, since November 2011, as Interim
President and Chief Executive Officer of Exterran Holdings and as
Interim Chief Executive Officer and Chairman of the Board of
Exterran GP LLC. Prior to that time, Mr. Childers served as Senior Vice
President of Exterran Holdings since 2007 and President, North America
Operations since 2008. He also served as Senior Vice President of
Exterran GP LLC since 2006 and director of Exterran GP LLC since 2008.
Mr. Childers joined Universal Compression Holdings, Inc. in 2002 and
served in a number of leadership roles including Senior Vice President
and President of Universal’s International Division prior to Universal’s
merger with Hanover Compressor Company to form Exterran Holdings in
2007. Before joining Universal in 2002, Mr. Childers held various
positions with Occidental Petroleum Corporation.
About William M. Goodyear
Mr. Goodyear has served as Executive Chairman of the Board of Navigant
Consulting since 2000, and served as Navigant’s Chief Executive Officer
from 2000 to 2012. Prior to that time, he served as Chairman and Chief
Executive Officer of Bank of America Illinois and was President of Bank
of America’s Global Private Bank. From 1972 to 1999, Mr. Goodyear held a
variety of assignments with Continental Bank, subsequently Bank of
America. During his tenure with Continental Bank, Mr. Goodyear was
stationed in London for five years to manage the bank’s European and
Asian Operations. He was Vice Chairman and a member of the Board of
Directors of Continental Bank prior to the 1994 merger between
Continental Bank and BankAmerica Corporation. Mr. Goodyear is also a
member of the Board of Trustees of the University of Notre Dame and is
Vice Chairman of the Board and chairs the Finance Committee for the Rush
University Medical Center in Chicago.
About John P. Ryan
Mr. Ryan served as President and Chief Executive Officer of Dresser,
Inc. from 2007 until its acquisition by General Electric in 2011. Mr.
Ryan was President and Chief Operating Officer of Dresser, Inc. from
2004 to 2007 and served as President of Dresser Wayne from 1996 to 2004.
Mr. Ryan previously served as a Vice President of Dresser Wayne since
1991, having joined the company in 1987. Mr. Ryan currently serves as a
director of Hudson Products, Inc. and as a member of the Board of
Directors of The Village of Hope in Salisbury, Maryland.
Additional Information
The Company has filed a proxy statement (the "Proxy Statement") with the
Securities and Exchange Commission (the "SEC") in connection with the
solicitation of proxies for the 2013 Annual Meeting. Details concerning
the nominees of the Company's Board of Directors for election at the
2013 Annual Meeting are included in the Proxy Statement. This press
release may be deemed to be solicitation material in respect of the 2013
Annual Meeting. In connection with the 2013 Annual Meeting the Company
will file with, or furnish, to the SEC all additional relevant
materials. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND STOCKHOLDERS
OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR
FURNISHED TO THE SEC, INCLUDING THE COMPANY'S DEFINITIVE PROXY
STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors and stockholders may obtain a copy of the definitive Proxy
Statement and other documents filed by the Company free of charge from
the SEC's website, www.sec.gov.
The Company's stockholders also may obtain, without charge, a copy of
the definitive Proxy Statement and other relevant documents by directing
a request by mail to Investor Relations, Exterran Holdings, Inc., 16666
Northchase Drive, Houston, Texas 77060, or from the Company's website at www.exterran.com.
The Company and its directors and executive officers and certain other
members of its management and employees may be deemed to participate in
the solicitation of proxies in respect of the 2013 Annual Meeting.
Additional information regarding the interests of such potential
participants is included in the definitive Proxy Statement.
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
has approximately 10,000 employees and operates in approximately 30
countries. Exterran Holdings owns an equity interest, including all of
the general partner interest, in Exterran Partners, L.P. (NASDAQ: EXLP),
the leading provider of natural gas contract operations services to
customers throughout the United States. For more information, visit www.exterran.com.
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 Section 21E of the
Securities Exchange Act of 1934, as amended. 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 Exterran Holdings’ control, which could cause actual results to
differ materially from such statements. Forward-looking information
includes, but is not limited to: Exterran Holdings’ financial and
operational strategies and ability to successfully effect those
strategies; expectations regarding future economic and market
conditions; Exterran Holdings’ financial and operational outlook and
ability to fulfill that outlook; statements relating to the nominees to
Exterran’s Board of Directors, including their expected contributions to
the Board; and statements relating to the appointment of Messrs. Sotir
and Hall as Executive Chairman of the Board and Vice Chairman of the
Board and lead independent director, respectively, including their
expected contributions to the Board.
While Exterran Holdings 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: local, regional, national and
international economic conditions and the impact they may have on
Exterran Holdings and its customers; changes in tax laws that impact
master limited partnerships; conditions in the oil and gas industry,
including a sustained decrease in the level of supply or demand for oil
or natural gas or a sustained decrease in the price of oil or natural
gas; Exterran Holdings’ ability to timely and cost-effectively execute
larger projects; changes in political or economic conditions in key
operating markets, including international markets; any non-performance
by third parties of their contractual obligations; changes in safety,
health, environmental and other regulations; and the performance of
Exterran Partners.
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, 2012, and those set forth from time to time in Exterran
Holdings’ filings with the Securities and Exchange Commission, which are
currently available at www.exterran.com.
Except as required by law, Exterran Holdings 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.
Source: Exterran Holdings, Inc.
Exterran Holdings, Inc.
Media
Susan Moore, 281-836-7398
or
Investors
David
Oatman, 281-836-7035