Dune Energy Appoints Two New Directors, Marjorie Bowen And John Brecker
HOUSTON, April 1, 2013
HOUSTON, April 1, 2013 /PRNewswire/ -- Dune Energy, Inc. (OCTBB:DUNR) today
announced that the individuals listed below have been appointed to serve on
Dune's board of directors effective March 28, 2013.
Newly Appointed Directors
oMarjorie L. Bowen, 47, has been appointed a member of our Compensation
Committee, and will chair our Corporate Governance and Nominating
Committee. Ms.Bowen held positions of increasing responsibility from 1989
through 2007 at Houlihan Lokey Howard& Zukin, Inc., an international
advisory-focused investment banking firm. While at Houlihan Lokey,
Ms.Bowen served as a Managing Director, where she advised an extensive
number of public company boards of directors, providing transactional and
financial advisory services in a wide range of corporate matters,
including mergers and acquisitions, debt and equity reorganizations and
other financial and strategic transactions, governance and shareholder
issues, and shareholder value maximization. Ms.Bowen was also a member of
the firm's Management Committee for Financial Advisory Services. Ms. Bowen
also currently serves on the board of Global Aviation Holdings, and serves
as Chair of the Audit Committee for that company. Ms. Bowen has
previously served on the boards of directors of the Talbots Inc., a
publicly traded women's apparel company, Texas Industries, Inc., a
publicly traded supplier of heavy construction materials, as well as other
privately held company boards, and has had various positions on the audit,
compensation, and governance and nominating board committees at these
companies. With over 20years of corporate financial and transactional
experience, much of it focused on advising boards of directors across a
broad range of industry sectors, Ms.Bowen brings to our Board
considerable strategic planning expertise, financial and strategic
transactional experience, and broad knowledge on financial and governance
oJohn R. Brecker, 50, has been appointed a member of the Audit Committee
and also the Nominations and Governance Committee. Mr. Brecker has served
as an executive with director and management experience in investing and
operations, both domestic and internationally; including chemical, retail,
auto, and shipping. Mr. Brecker has also served on numerous boards,
including Catalyst Paper Corporation as an audit committee member, and
Broadview Network Holdings as a compensation committee member. Mr.
Brecker has also been the Principal and Co-founder of Longacre Fund
Management, L.L.C. Mr. Brecker received his law degree from St. John's
University School of Law and his undergraduate from American University.
Ms. Bowen and Mr. Brecker will join other members of the Dune Energy board:
Robert Schmitz, Chairman of the Board; James A. Watt, President & CEO; Michael
Keener; Dr. Alexander A. Kulpecz; and Eric Stearns.
Mr. Schmitz commented on the appointment of Ms. Bowen and Mr. Brecker to the
board, "We are very fortunate to have Marjorie and John join our board. They
bring an excellent knowledge base to our board. All of us are excited to work
with our management team and investor group to build Dune into a high quality
profitable Gulf Coast oil and gas company. "
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FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements.
Forward-looking statements include, but are not limited to, statements
concerning estimates of expected drilling and development wells and associated
costs, statements relating to estimates of, and increases in, production, cash
flows and values, statements relating to the continued advancement of Dune
Energy, Inc.'s projects and other statements which are not historical facts.
When used in this document, the words such as "could," "plan," "estimate,"
"expect," "intend," "may," "potential," "should," and similar expressions are
forward-looking statements. Although Dune Energy, Inc. believes that its
expectations reflected in these forward-looking statements are reasonable,
such statements involve risks and uncertainties and no assurance can be given
that actual results will be consistent with these forward-looking statements.
Important factors that could cause actual results to differ from these
forward-looking statements include the potential that the Company's projects
will experience technological and mechanical problems, geological conditions
in the reservoir may not result in commercial levels of oil and gas
production, changes in product prices and other risks disclosed in Dune's
Annual report on Form 10-K filed with the U.S. Securities and Exchange
CONTACT: Investors, Steven J. Craig, Sr. Vice President Investor Relations and
Administration, Dune Energy, Inc., +1-713-229-6300
SOURCE Dune Energy, Inc.
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