McDermott Adds Restructuring Experts to Board; Shares Fall (1)

McDermott International Inc. added restructuring experts Heather L. Summerfield and Alan J. Carr to its board of directors, according to an SEC filing. The shares fell more than 17% in extended trading.

• Summerfield, a partner at Arcadi Jackson, directed legal strategy for the Exco Resources restructuring during her time as general counsel, according to her firm’s website and LinkedIn
• Carr, chief executive officer of Drivetrain, served on the board of Lightsquared and Sears Holdings Corp. during their restructurings, according to his firm’s website and a news release
• They will each receive $300,000 a year, paid quarterly in advance, as ...