Orion Marine: Changes in Management Structure (USA)

Changes in Management Structure

Orion Marine Group Inc, a leading heavy civil marine contractor serving the infrastructure sector, today announced changes in its management structure.

On February 25, 2014, Mike Pearson, Orion Marine Group’s President and Chief Executive Officer, notified the Company’s Board of Directors of his plans to retire from the Company at the end of 2014, but continue as a Director.

As a result, the Board has begun to implement its succession plan and is working with Mr. Pearson to provide for a smooth transition over the next ten months. Under the Board’s transition plan, Mr. Pearson has relinquished his President title, but will remain Chief Executive Officer until December 31, 2014. At that time, he will retire, but will remain a Director of the Company.

Today the Board announced it has named Mark R. Stauffer as President of Orion Marine Group. Mr. Stauffer has over 28 years of experience, has overseen the daily field operations of the Company since 2011, and has been a part of operations and management oversight since he joined the Company in 1999.

The Board will begin working with Mr. Pearson to transition the duties of Chief Executive Officer to Mr. Stauffer by the end of the year, when he will assume the Chief Executive Officer title, in addition to retaining the President title.

We are pleased Mark has been named Orion Marine Group’s President and then will assume the CEO duties beginning in 2015,” said Richard Daerr, Orion Marine Group’s Chairman of the Board of Directors. “Mark has been instrumental in developing the Company alongside Mike and he possess the right skill set to continue the growth of the Company into the future.”

Additionally, Christopher J. DeAlmeida has been named Orion Marine Group’s Vice President and Chief Financial Officer. Mr. DeAlmeida, is an accomplished financial executive with over 15 years of public company accounting and financial management experience and has overseen most of the Company’s daily financial and accounting responsibilities since 2012, when he was named Vice President, Finance and Accounting.

[mappress]

Press Release, February 27, 2014

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