Dresser-Rand Names Jan Kees van Gaalen Executive Vice President and CFO
HOUSTON, April 3, 2013
HOUSTON, April 3, 2013 /PRNewswire/ -- Dresser-Rand Group Inc. ("Dresser-Rand"
or the "Company") (NYSE: DRC) announced today that Jan Kees van Gaalen will
become Executive Vice President and Chief Financial Officer of Dresser-Rand,
effective May 1, 2013. Mr. van Gaalen succeeds Mark Baldwin, whose impending
retirement was previously announced.
Mr. van Gaalen joins Dresser-Rand from Baker Hughes Inc., a public company and
leading provider of drilling, formation evaluation, completion and production
products and services to the oil and gas industry, where he served as Vice
President and Treasurer. Before joining Baker Hughes, he was the Chief
Financial Officer and Vice President Finance for PT Inco Tbk based in Jakarta,
Indonesia, the publicly traded Indonesian subsidiary of Vale Inco Ltd. Prior
to this he held a variety of finance positions with Anglo American plc,
Carlton Communications plc and Schlumberger Ltd. in France, the United
Kingdom, Venezuela, Brazil and South Africa.
Mr. van Gaalen is fluent in English, German, Dutch, Portuguese, French, and
Spanish. He received his bachelor's degree in economics from the Erasmus
University in Rotterdam, Netherlands and his MBA from the HEC Management
School in France.
Vincent R. Volpe, Jr., Dresser-Rand's President and CEO, said, "We are
delighted to welcome Jan Kees as a member of our leadership team. Jan Kees'
knowledge of our industry, along with his strong financial and operational
pedigree and vast international experience provides him a solid platform for
the role of Chief Financial Officer of Dresser-Rand. We look forward to Jan
Kees' contributions as a member of the Executive Staff, and to our continued
progress in developing a world-class financial team."
"I want to again recognize Mark Baldwin for his service to Dresser-Rand and
thank him for the fine job he has done over the past five and one-half years
building a strong finance team. During Mark's tenure, we substantially
strengthened our internal governance processes, created a culture of
discipline, completed successful acquisitions, and developed our public
company relationship with an independent Board of Directors and the community
of investment analysts. I am also pleased that Mark will be available to
assist the Company during the transition period with Jan Kees, said Volpe."
Dresser-Rand is among the largest suppliers of rotating equipment solutions to
the worldwide oil, gas, petrochemical, and process industries. The Company
operates manufacturing facilities in the United States, France, United
Kingdom, Spain, Germany, Norway, and India, and maintains a network of 49
service and support centers (including 6engineering and R&D centers) covering
more than 150 countries.
This news release may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include, without limitation, the Company's plans, objectives,
goals, strategies, future events, future bookings, revenues, or performance,
capital expenditures, financing needs, plans, or intentions relating to
acquisitions, business trends, executive compensation, and other information
that is not historical information. The words "anticipates", "believes",
"expects", "intends", "appears", "outlook," and similar expressions identify
such forward-looking statements. Although the company believes that such
statements are based on reasonable assumptions, these forward-looking
statements are subject to numerous factors, risks, and uncertainties that
could cause actual outcomes and results to be materially different from those
projected. These factors, risks, and uncertainties include, among others, the
following:economic or industry downturns; the variability of bookings due to
volatile market conditions, subjectivity clients exercise in placing orders,
and timing of large orders; volatility and disruption of the credit markets;
its inability to generate cash and access capital on reasonable terms and
conditions; its inability to implement its business strategy to increase
aftermarket parts and services revenue; its ability to comply with local
content requirements; delivery delays by certain third party suppliers of
large equipment; its ability to implement potential tax strategies;
competition in its markets; failure to complete or achieve the expected
benefits from any future acquisitions; economic, political, currency and other
risks associated with international sales and operations; fluctuations in
currencies and volatility in exchange rates; loss of senior management;
environmental compliance costs and liabilities; failure to maintain safety
performance acceptable to its clients; failure to negotiate new collective
bargaining agreements; a failure or breach of our information system security;
unexpected product claims and regulations; infringement on its intellectual
property or infringement on others' intellectual property; its pension
expenses and funding requirements; difficulty in implementing an information
management system; and the Company's brand name may be confused with others.
These and other risks are discussed in detail in the Company's filings with
the Securities and Exchange Commission at www.sec.gov. Actual results,
performance, or achievements could differ materially from those expressed in,
or implied by, the forward-looking statements. The Company can give no
assurances that any of the events anticipated by the forward-looking
statements will occur or, if any of them does, what impact they will have on
results of operations and financial condition. The company undertakes no
obligation to update or revise forward-looking statements, which may be made
to reflect events or circumstances that arise after the date made or to
reflect the occurrence of unanticipated events, except as required by
applicable law. For information about Dresser-Rand, go to its website at
SOURCE Dresser-Rand Group Inc.
Contact: Blaise Derrico, Vice-President Investor Relations, +1-713-973-5497
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