Tidewater Inc 8-K, filed Sep 8, 2020
Tidewater Inc (TDW)
About this 8-K
Tidewater Inc filed this 8-K on September 8, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
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CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(d) On September 8, 2020, the board of directors (the “Board”) of Tidewater Inc. (the “Company”) voted, on the recommendation of its Nominating and Corporate Governance Committee, to appoint Darron M. Anderson to the Board. Mr. Anderson’s appointment is effective immediately and, assuming his renomination by the Board, he will stand for reelection at the 2021 annual meeting of the Company’s stockholders. While the Board has determined that Mr. Anderson, age 52, qualifies as an independent director under the applicable listing standards, he has not yet been appointed to serve on any of its committees.
A copy of a press release issued by the Company regarding Mr. Anderson’s election is attached as Exhibit 99, which is hereby incorporated by reference into this Form 8-K.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit Number |
Description | |
| 99 | Press Release dated September 8, 2020 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| TIDEWATER INC | ||||||
| Date: September 8, 2020 | By: | /s/ Daniel A. Hudson | ||||
| Daniel A. Hudson | ||||||
| Vice President, General Counsel and Secretary | ||||||
2
Exhibit 99
Tidewater Inc. Appoints Darron M. Anderson to its Board of Directors
HOUSTON, September 8, 2020 – Tidewater Inc. (NYSE: TDW) (“Tidewater” or the “Company”) announced today the appointment of Darron M. Anderson to its Board of Directors, effective immediately. Mr. Anderson is a recognized business leader with extensive experience in the oil and gas industry.
“I’m honored to have the opportunity to join Tidewater’s Board, and I look forward to helping guide the company’s strategy as it navigates the current market and works to enhance its already leading market position,” said Mr. Anderson. “I’m excited to be part of a company with such a recognized and respected history as Tidewater, a leader in the OSV sector that has consistently demonstrated the ability to adapt to changing market conditions.”
Mr. Anderson has served as President and Chief Executive Officer and as a member of the board of directors of Ranger Energy Services since March 2017. He previously served as President and Chief Executive Officer of Express Energy Services from 2008 to August 2015. Mr. Anderson began his career in the oil and natural gas industry as a Drilling Engineer for Chevron USA in 1991 and has subsequently held positions of increasing responsibility in the oil and natural gas and oilfield services industries. He holds a Bachelor of Science in Petroleum Engineering from the University of Texas at Austin.
“Darron is a seasoned executive with a strong track record of leadership in the oil and gas sector,” said Larry Rigdon, Chairman of Tidewater’s Board of Directors. “He has broad, hands-on operational experience and a thorough understanding of how our industry operates today and where it is headed. We are very pleased to welcome Darron to Tidewater and look forward to his contributions to our future success. This appointment represents the latest step in Tidewater’s continuous effort to align the board and management with the objective of maximizing long term shareholder value.”
Tidewater owns and operates the largest fleet of Offshore Support Vessels in the industry, with over 60 years of experience supporting offshore energy exploration and production activities worldwide. For more information about Tidewater, visit tdw.com.
Contacts:
Tidewater Inc.
Jason Stanley
Vice President, Investor Relations
713-470-5300
SOURCE: Tidewater Inc.