UPDATE: Team, Inc. Announces New Organizational Structure to Further Facilitate the Implementation of Its Business Integration and Transformation
New leadership and structure designed to drive operational efficiencies, reduce costs and promote faster growth
The new organizational structure will include a Product and Service Line organization and an Operations organization. The Product and Service Lines will be responsible for value positioning and pricing, standardization of best practices, technical training and program development, and technology innovation across Team’s global enterprise. The Operations organization, comprised of cross-segment divisions aligned by major geographic regions, will be responsible for executing product and service delivery in accordance with established Team service line standards, safety and quality protocols. Team’s local district locations will remain focused on the Company’s superior service and product delivery to clients.
The Company also announced the following executive leadership appointments, all of whom will report to Mr. Gatti:
Jeffrey L. Ott, President, Product and Service Lines and Quest Integrity — Prior to his appointment, Mr. Ott served as Team’s President, Mechanical Services and Quest Integrity. In these roles, Mr. Ott demonstrated his strong leadership ability and contributions to Team’s strategic planning and execution. He will be responsible for strengthening our key product and service portfolio, strategic planning, improvement of enterprise-wide value pricing and positioning, and enhancement of enterprise performance through continuous improvement and technology-enabled innovation. Mr. Ott began his career as an engineer in the Operations Analysis group at Rockwell International’s North American Aircraft division and then spent 20 years in the banking sector managing middle market investments in industrial technology and financial services. Mr. Ott holds a B.Sc. in Engineering Management and Operations Researchfrom Southern Methodist Universityand an M.B.A. from Dartmouth College. Grant D. Roscoe, President, Operations — Prior to joining Team, Mr. Roscoe served as Global Vice President of Testing & Subsea for Halliburton. Over his 24-year career in the oil and gas industry, Mr. Roscoe held a number of leadership roles at Halliburton, including Senior Global Integration Manager, Senior Regional Manager Completions – North America, and Global Strategic Business Manager. Earlier in his Halliburtoncareer, he held field operations, engineering and technology positions around the world, including North Americaand Asia. Before joining Halliburtonin 2001, he held various roles at Expro Groupand Global Marine. Mr. Roscoe holds a B.S. in Mechanical Engineering from Durban Universityof Technology and received Business Leadership Developmentand Leadership Excellence certifications from Texas A&M University’s Mays Business School. Michael R. Wood, Senior Vice President of Health, Safety, and Environment — Mr. Wood joins Team from Siemenswhere he most recently served as a Regional Head of Quality Management & Environment, Health & Safety for Power & Gas. Mike will be responsible for collaborating with our Company leadership to analyze and improve Team programs and practices to reduce risk and protect the safety and health of Team employees, customers, contractors and the communities in which we operate. Mike has more than 30-years of experience serving in leadership roles at companies with a focus on HSE, including Dresser-Rand, Baker Hughes and The Dow Chemical Company. Mr. Wood received a B.S. in Chemistry from Saint Bonaventure Universityand an M.B.A. from the University of Texas at Tyler. Sherri A. Sides, Senior Vice President, Chief Human Resources Officer — Ms. Sides joins Team from Air Liquidewhere she most recently served as Vice President - Human Resources for U.S. Operations. Ms. Sides brings deep experience cultivating and implementing human resources initiatives that promote a strong culture of engagement, talent management and organizational unification to attract, retain, and develop employees. Ms. Sides has more than 20-years of human resources and talent development experience from leadership roles with Memorial Hermann Healthcare System, Dell, Inc., and Applied Materials, Inc. Ms. Sides holds an M.A. in Human Studies from St. Edward's Universityand a B.A. in Psychology from The University of Texas at Austin. James P. McCloskey, Senior Vice President of Commercial — Prior to joining Team, Mr. McCloskey most recently served as Vice President Petrochemical & Manufacturing at the American Fuel & Petrochemical Manufacturers association. Mr. McCloskey will develop and lead Team’s newly formed commercial function, which includes sales, marketing, and contracts management. Mr. McCloskey brings over 30-years of experience and knowledge in strategic selling, marketing, and corporate strategy development from his work at Blue Ridge Partnersand the Carnrite Group, The Brock Group, and S&B Engineers & Constructors. Mr. McCloskey holds a B.Sc. in Industrial Distribution from Texas A&M University.
Mr. Gatti, continued, “We are excited to congratulate Jeff and welcome Grant, Sherri, Jim and Mike to Team as we continue executing on our plans to transform the business and accelerate our path to profitability. I am confident that these seasoned and passionate leaders will bring new perspectives and insight to our executive team. With their leadership and the continued contributions of our talented employees, we will build on our strong foundation to drive customer relationships, operational efficiency, and improved financial performance in order to create value for our stakeholders.”
With these leadership appointments in place, Team is moving swiftly to transition its operations, management structure, support functions and technology infrastructure to align with the new organization, which we expect to be fully operational in the fourth quarter of 2018. Upon completion of these organizational and reporting changes, we anticipate our reportable segments will also change. Until then, our reportable segments will continue as Inspection and Heat Treating, Mechanical Services and Quest Integrity.
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
Chief Financial Officer
Source: Team, Inc.