Oceaneering International Inc. has announced that Marvin J. Migura has decided to relinquish his position as Executive Vice President effective 31 December 2015.
Migura will continue to serve as a Senior Vice President, reporting to CEO M. Kevin McEvoy, and remain a part of the executive management team at least through the end of 2016.
Migura joined Oceaneering in 1995 as Senior Vice President and Chief Financial Officer and was appointed to the position of Executive Vice President in 2011. During his tenure, he has contributed significantly to the improvements in financial performance Oceaneering has achieved, as evidenced by a compound annual growth rate in revenue of 15% and net income of 25% through 2014.
McEvoy, CEO, stated, "Marvin has been an integral member of the executive leadership team at Oceaneering since he joined the company. I truly enjoy working with him and look forward to his continued involvement in the company's strategic decision-making process and in investor relations. Furthermore, Marvin's gradual move toward retirement will help assure a smooth transition to our recently announced senior-level management changes."
Coincident with Mr. Migura's role change, Alan R. Curtis, Senior Vice President and Chief Financial Officer, and Eric A. Silva, Senior Vice President Operations Support, will report directly to the CEO.
Edited from press release by Angharad Lock