|
Quotes & Info
|
| TTI > SEC Filings for TTI > Form 8-K on 20-Mar-2009 | All Recent SEC Filings |
20-Mar-2009
Change in Directors or Principal Officers, Financial Statements and Exhibi
On March 16, 2009, the Board of Directors of TETRA Technologies, Inc. (the "Company") approved a succession plan under which Geoffrey M. Hertel, President and Chief Executive Officer and a director of the Company, will resign from his position as President and Chief Executive Officer immediately following the Company's Annual Meeting of Stockholders on May 5, 2009. Mr. Hertel will continue to serve as a director of, and be employed by, the Company following his resignation as President and Chief Executive Officer.
Under the succession plan, effective May 5, 2009, Stuart M. Brightman, age 52, will assume the positions of President and Chief Executive Officer. Mr. Brightman has served as the Company's Executive Vice President and Chief Operating Officer since April 2005. Mr. Brightman currently serves as a director of Compressco Partners GP Inc. Mr. Brightman served as president of the Dresser Flow Control division of Dresser, Inc. from April 2002 until April 2004. Dresser Flow Control, which manufactures and sells valves, actuators, and other equipment and provides related technology and services for the oil and gas industry, had revenues in excess of $400 million in 2004. From November 1998 to April 2002, Mr. Brightman was president of the Americas Operation of the Dresser Valve Division of Dresser, Inc. He served in other capacities during the earlier portion of his career with Dresser, from 1993 to 1998. From 1982 to 1993, Mr. Brightman served in several financial and operational positions with Cameron Iron Works and its successor, Cooper Oil Tools. Following May 5, 2009, Mr. Brightman will not retain the title of Chief Operating Officer.
It is the intention and expectation of the Board of Directors that the Company will enter into a transition agreement with Mr. Hertel to be effective upon his resignation as President and Chief Executive Officer. The terms and provisions of the transition agreement have not been finalized and remain subject to negotiation. The final terms of the transition agreement will be subject to the approval of the Board of Directors and will be described in, and a copy of the final transition agreement will be attached as an exhibit to, a subsequent Current Report on Form 8-K which will be filed promptly after the execution of the transition agreement.
On March 20, 2009, the Company issued a press release announcing the planned transition of the President and Chief Executive Officer position. The press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
(d) Exhibits.
Exhibit Number Description
99.1 Press Release, dated March 20, 2009, issued by TETRA
Technologies, Inc.
|
|
|