Kirby Corporation Elects David W. Grzebinski As President And Chief Operating
Officer And C. Andrew Smith As Executive Vice President - Finance
HOUSTON, Jan. 2, 2014
HOUSTON, Jan. 2, 2014 /PRNewswire/ -- Kirby Corporation ("Kirby") (NYSE:KEX),
the nation's largest tank barge operator and diesel engine services provider,
announced today the following management changes.
David W. Grzebinski has been elected President and Chief Operating Officer and
will remain Kirby's Chief Financial Officer until after the filing of the 2013
Form 10-K in February 2014. Mr. Grzebinski previously served as Executive Vice
President and Chief Financial Officer, a position he has held since 2010.
C. Andrew Smith has been elected Executive Vice President – Finance. Mr. Smith
will assume the role of Executive Vice President and Chief Financial Officer
after the filing of Kirby's 2013 Form 10-K. Mr. Smith, a Certified Public
Accountant, brings to Kirby 20 years of extensive business and financial
experience. Prior to joining Kirby, he served as Senior Vice President and
Chief Financial Officer of Benthic Geotech and was previously Chief Financial
Officer for both Global Industries, LTD and NATCO Group.
Joseph H. Pyne will remain Chairman of the Board and Chief Executive Officer.
Mr. Pyne previously served as Chairman of the Board, President and Chief
Executive Officer. He has served as the Chief Executive Officer of Kirby since
Mr. Pyne stated, "The election of David Grzebinski as President and Chief
Operating Officer and Andy Smith as Executive Vice President – Finance is the
first step in the succession plan we announced in April 2013, with the goal of
transitioning my Chief Executive Officer's position to David during 2014, and
the Chief Financial Officer's position to Andy in February 2014. I intend to
remain an active and engaged Chairman and I am looking forward to working with
David and Andy and the Kirby management team in creating value for our
Kirby Corporation, based in Houston, Texas, is the nation's largest domestic
tank barge operator transporting bulk liquid products throughout the
Mississippi River System, the Gulf Intracoastal Waterway, coastwise along all
three United States coasts and in Alaska and Hawaii. Kirby transports
petrochemicals, black oil, refined petroleum products and agricultural
chemicals by tank barge. Through the diesel engine services segment, Kirby
provides after-market service for medium-speed and high-speed diesel engines
and reduction gears used in marine and power generation applications. Kirby
also distributes and services high-speed diesel engines, transmissions, pumps,
compression products and manufactures and remanufactures oilfield service
equipment, including pressure pumping units, for land-based pressure pumping
and oilfield service markets.
Statements contained in this press release with respect to the future are
forward-looking statements. These statements reflect management's reasonable
judgment with respect to future events. Forward-looking statements involve
risks and uncertainties. Actual results could differ materially from those
anticipated as a result of various factors, including cyclical or other
downturns in demand, significant pricing competition, unanticipated additions
to industry capacity, changes in the Jones Act or in U.S. maritime policy and
practice, fuel costs, interest rates, weather conditions, and timing,
magnitude and number of acquisitions made by Kirby. Forward-looking statements
are based on currently available information and Kirby assumes no obligation
to update any such statements. A list of additional risk factors can be found
in Kirby's annual report on Form 10-K for the year ended December 31, 2012
filed with the Securities and Exchange Commission.
SOURCE Kirby Corporation
Contact: Steve Holcomb, 713-435-1135
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