Team, Inc. Announces Strategic Organizational Structure To Accelerate Global Growth
TEAM's new streamlined structure supports the company's global operations with greater management focus on further improving operational and financial performance through these new operating groups:
- The Inspection & Heat Treating (IHT) group, which includes the IHT segment, is dedicated to growing its stable nested footprint as regulatory compliance requirements increase, expanding turnaround activity, and diversifying its end markets globally, such as through increased investment in the Aerospace business line.
- The Mechanical & Onstream Services (MOS) group, which includes the Mechanical Services segment, continues to target turnarounds and capital projects, and improve performance, efficiency, and longevity of aging critical assets. MOS is primed to grow with the industry recovery led by the high demand of maintenance and call-out work.
- The Asset Integrity & Digital (AID) group, which includes the Quest Integrity segment and its technology-enabled advanced inspection and engineering assessment solutions. AID will focus on expanding mechanical and pipeline integrity, risk-based inspection, remote visual inspection, and digital platform. AID will also optimize the company's research and development activities, including product and technology development. TEAM believes it is well positioned to provide innovative solutions to the company's clients supporting the energy transition.
These groups and a new leadership structure will serve as the foundation for TEAM's operating organizational structure. The company's three reportable segments will continue as Inspection and Heat Treating, Mechanical Services, and Quest Integrity.
"We have been on a multi-year journey to transform our organization through the global OneTEAM integration and transformation program," said
"Our OneTEAM transformation has positioned the company for this new structure, allowing us to leverage the core strengths of our three segments and drive growth across both domestic and international operations. In addition to expanding our service offerings and responsiveness, we will build on our scale, agility, and efficiency to prioritize innovative high value solutions through our Asset Integrity & Digital group," added
To enable further growth within its segments, TEAM also announced that it has expanded the account management function to better align global enterprise management sales teams and service offerings with client needs. The new organizational structure positions the company to grow sales across segments, share collective insights and subject matter expertise, deliver stronger service quality, and increase overall profitability.
The company also announced the following executive leadership appointments, each of whom will report directly to
Keith Tucker– President, Inspection & Heat Treating. Mr. Tuckerwill oversee the management and growth of the IHT group. Keith joined TEAM in 2005 and has 32 years of industry experience, including prior positions at Citgo and BP Amoco. Mr. Tucker began his career as an inspector and most recently held the position of TEAM's Executive Vice President - North Division. During his tenure at TEAM, he has been instrumental in identifying several acquisitions, including Quest Integrity.
Chad Murray– President, Mechanical & Onstream Services. Mr. Murray will oversee the management and growth of the MOS group. Chad has worked for TEAM and/or TEAM acquired companies for over 22 years and most recently served as TEAM's Executive Vice President - Texas Gulf Division. Mr. Murrayhas over 25 years of industry experience, having begun his career in upstream oil and gas at Baker Hughes INTEQbefore joining CooperHeat-MQS, which was acquired by TEAM in 2004, and then joined Furmanite, which was acquired by TEAM in 2016. Mr. Murray has a Bachelor of Science in Management from Louisiana Tech University.
Robert Young– President, Asset Integrity & Digital. Mr. Young will oversee the management and growth of the new Asset Integrity & Digital group, including Quest Integrity. Robert joined TEAM in January 2018and has over 26 years of industry experience, including positions at TD Williamson and Applus+RTD, where he served as President – US Operations. In his most recent role as TEAM's Executive Vice President – Product & Service Lines, he helped obtain new patents and patent–pending products. Mr. Younghas a Bachelor of Science in Marine Science from Texas A&M University.
As a result of the organizational restructuring,
"I would also like to thank Jeff and Grant for their dedication and service to TEAM – their contributions were many and invaluable. I truly appreciate their commitment and continued support as we transition to the new organizational structure,"
Certain forward-looking information contained herein is being provided in accordance with the provisions of the Private Securities Litigation Reform Act of 1995. We have made reasonable efforts to ensure that the information, assumptions and beliefs upon which this forward-looking information is based are current, reasonable and complete. Such forward-looking statements involve estimates, assumptions, judgments and uncertainties. There are known and unknown factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking information. Such known factors are detailed in the Company's Annual Report on Form 10-K and in the Company's Quarterly Reports on Form 10-Q as filed with the
Senior Director, Investor Relations
Investor Relations Contact
Kevin Smith, Sr. Director of Investor Relations, Phone (281) 662-8326
TEAM, Inc., 13131 Dairy Ashford, Suite 600, Sugar Land, TX 77478, United States Of America