UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
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. |
On November 5, 2019, McDermott International, Inc. (“McDermott”) announced that Stuart A. Spence, Executive Vice President and Chief Financial Officer, had resigned from his positions with McDermott, effective November 4, 2019, and that Christopher A. Krummel has been appointed Executive Vice President, Chief Financial Officer of McDermott.
Mr. Krummel, age 51, has served as our Global Vice President, Finance and Chief Accounting Officer since May 2018, and previously served as our Vice President, Finance and Chief Accounting Officer from October 2016 to April 2018. Prior to joining McDermott, Mr. Krummel served as a consultant of American Industrial Partners, a firm engaging in private equity investments in industrial businesses in the United States and Canada, from November 2015 through July 2016; Chief Financial Officer and Vice President of EnTrans International, LLC, a global manufacturer of aluminum tank trailers, heavy lift trailers and oilfield pressure pumping equipment used in hydraulic fracturing and other well services, from September 2014 to October 2015; and Chief Accounting Officer, Vice President and Corporate Controller / Vice President of Finance of Cameron International, a worldwide provider of flow equipment products, systems and services to oil, gas and process industries from April 2008 until August 2014. In his role as Chief Financial Officer, Mr. Krummel will be McDermott’s principal financial and accounting officer.
There are no family relationships existing between Mr. Krummel and any director or executive officer of McDermott. Mr. Krummel does not have any interest in any transactions requiring disclosure under Item 404(a) of Regulation S-K and there are no arrangements or understandings between Mr. Krummel and any other person pursuant to which he was appointed as an officer of McDermott.
A copy of McDermott’s press release relating to the above-referenced announcement is furnished with this report as Exhibit 99.1.
| Item 8.01 | Other Events. |
On November 4, 2019, McDermott filed a prospectus supplement to the registration statement on Form S-3ASR (File No. 333-227609) (the “Registration Statement”) to register (i) 2,027,157 shares of McDermott’s common stock, par value $1.00 per share (the “Common Stock”), which are issuable upon exercise of the Series A Warrants (the “Warrants”) held by the selling stockholders identified in the prospectus supplement and (ii) an indeterminate number of shares of Common Stock that may be issued upon redemption of McDermott’s 12% redeemable preferred stock, par value $1.00 per share, held by the selling stockholders identified in the prospectus supplement.
This Current Report on Form 8-K is being filed to report as an exhibit a legal opinion relating to the shares of Common Stock offered through the prospectus supplement for incorporation by reference into the Registration Statement.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
EXHIBIT INDEX
| Exhibit |
Description | |||
| 5.1 |
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| 99.1 |
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| 104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||
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 hereunto duly authorized.
| MCDERMOTT INTERNATIONAL, INC. | ||||||
| Dated: November 5, 2019 |
By: |
/s/ John M. Freeman | ||||
| John M. Freeman Executive Vice President, Chief Legal Officer and Corporate Secretary | ||||||