THE WOODLANDS, US: Chicago Bridge & Iron Company (CB&I) said that it has approved the retirement of Philip Asherman, as president and chief executive officer (CEO) and as a member of the company's board, effective 1 July.
Patrick Mullen, currently chief operating officer of CB&I, has been appointed president and CEO by the supervisory board of directors, effective the same date. Mullen will stand for election to the company's board in May 2018.
Asherman (66) is widely credited for transforming CB&I from a speciality tank subcontractor to a global technology and energy infrastructure corporation, which at its peak has employed more than 50,000 employees in 85 locations around the world with a backlog of business exceeding $20 billion. He is also regarded as a leader in safety for the industry and in 2015 was a recipient of the National Safety Council's prestigious green cross for safety award, the first ever received by an engineering and construction company.
Mullen (52) was named COO in 2016. previously, he served as executive vice president and President of CB&I's engineering & construction operating group, where he was responsible for all engineering and construction for CB&I's worldwide operations.
"CB&I is grateful for Asherman’s service and congratulates him on his nearly 12 years of leadership. We especially appreciate his commitment to succession planning by ensuring that we have an outstanding internal candidate in Mullen to assume the position of CEO. I am confident in Mullen's ability to successfully lead CB&I into the future," said Richard Flury, non-executive chairman of CB&I's supervisory board.
"It has been a great honour to lead CB&I and I am proud of the many significant accomplishments the company and our employees have made in that time. Mullen has demonstrated tremendous leadership capabilities and has been an active executive partner in maintaining CB&I's standards with our employees and our customers. I'm confident Pat will bring a fresh perspective on technology and innovation that will drive the company to even greater achievements," said Asherman.
"Asherman's leadership has set a strong foundation for the many opportunities we have ahead. I look forward to working with our many talented employees to further build a culture that enables CB&I to be the most collaborative and innovative partner for our customers around the world," said Mullen.
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Read More: CB&I CEO retires; Patrick Mullen takes over
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