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

Nov. 22, 2019, 10:26 PM

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...

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