Gulf Island Fabrication, Inc. announced that its Chairman of the Board of Directors, Michael A. Flick, will retire. This is due to the expiration of his current director term in connection with the Company’s 2022 annual shareholders meeting. The board will be reduced to six members.
Likewise, for the past 15 years, Mr. Flick served as a director of Gulf Island and became Chairman of the Board in 2020. Moreover, the company reports that the has also served, at various times, as a member of the Audit Committee; member and Chairman of the Compensation Committee; and member and Chairman of the Corporate Governance & Nominating Committee.
“It has been an honor to serve on the Board of Gulf Island as both a director and as chairman. I am very proud to have been part of the Company’s history and recent strategic transformation,” said Mr. Flick. “I am also thankful for the experience of serving with my fellow Board members, whom I greatly admire and respect. My time with Gulf Island has been extremely fulfilling, and I have the utmost confidence that Richard, Bill, the Board and the Company’s leadership team, will lead Gulf Island to great things in the years ahead.”
The new Chairman of the Board
Gulf Island stated that the board unanimously elected William E. Chiles as Chairman of the Board to succeed Mr. Flick following the 2022 annual meeting. Furthermore, since 2014 Mr. Chiles has been a Board member. Also, he is currently the chairman of its Compensation Committee and a member of the Audit Committee.
Richard Heo, Gulf Island’s President and CEO commented that “on behalf of the Board, I would like to thank Mike for his tireless commitment to the Company. Mike’s outstanding leadership, business acumen and guidance have been invaluable to Gulf Island and we have benefited from his service to the Company and our stakeholders,” he also mentioned that “Mike has played a pivotal role in our strategic transformation and we wish him the very best in the years ahead.”
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About Gulf Island
Gulf Island is a multi-disciplined fabrication company with headquarters in Houston, Texas. They have operating facilities in Houma, Louisiana.
The company’s specialty is in providing high-quality fabrication of complex steel structures and modules. In addition, they provide project management, hookup, commissioning, repair, maintenance, and civil construction services.
Finally, they fabricate products and provide services that are critical to energy extraction and production; refining, petrochemical, LNG, and industrial facilities. Also, power generation and alternative energy.
