HOUSTON, Aug. 18, 2022 (GLOBE NEWSWIRE) — Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today announced that Travis Boone has been named President and Chief Executive Officer and Member of the Board of Directors, effective September 12, 2022. Austin J. Shanfelter will step down as interim CEO at that time and will continue to serve as Executive Chairman of Orion for a short transition period.
Mr. Boone has served as Regional General Manager of AECOM and Legacy Businesses since May 2017 and other key positions since 1999. From 1986 to 1999, he held various positions with several contracting companies in the areas of utility/pipeline construction and commercial building construction. He is a Professional Engineer and Board Certified Safety Professional. Mr. Boone holds a Bachelor of Science in Civil/Structural Engineering from New Mexico State University and an Associate of Arts degree in Business Administration from Mid-American Christian University.
“On behalf of the Board of Directors and the Orion Group team, I welcome Travis as our new President and Chief Executive Officer. Travis brings a wealth of industry knowledge, experience and leadership to Orion. It has a proven track record of success, which we believe will have a significant impact on improving Orion’s performance and positioning it well for growth and success,” said Austin Shanfelter.
Mr. Boone said, “I am honored to join Orion Group Holdings as our next President and CEO at such an important time in the company’s history. I view Orion Group as an industry leader and believe there are significant growth opportunities for the company. I look forward to working with and leading a talented team to continue to improve performance and maximize market value. »
About Orion Group Holdings, Inc.
Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and construction sectors, provides on and off water services in the continental United States, Alaska, Canada and the Caribbean Basin through its maritime segment and its concrete segment. The Company’s marine segment provides construction and dredging services related to construction of marine transportation facilities, construction of marine pipelines, marine environmental structures, dredging of waterways, canals and ports, environmental dredging, design and specialized services. Its concrete segment provides turnkey concrete construction services, including pouring and finishing, earthwork, layout, formwork, rebar and mesh in the light commercial, structural and other associates. The company is headquartered in Houston, Texas, with regional offices in all of its operating areas.
Matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, upon which the Company relies. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as “believes”, “expects”, “may”, “will”, “could”, “should”, “seek”, ” about”, “intends”, “plans”, “estimates” or “anticipates”, or their negative form or any other comparable terminology, or through discussions of strategy, plans, objectives, intentions, estimates, forecasts, prospects, assumptions or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statements, express or implied, regarding future operating results or future generation or ability to generate income , revenue, net profit, profit, EBITDA, EBITDA margin or cash flow, including for debt service, and including any estimates, forecasts or assumptions regarding future revenues or growth of earnings, are forward-looking statements. Forward-looking statements also include the estimated start date of the project, anticipated revenues and contract options that may or may not be awarded in the future. Forward-looking statements involve risks, including those associated with the Company’s fixed-price contracts that impact earnings, unforeseen productivity delays that may affect the ultimate profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in customer funding, levels and predictability of government funding or other government budget constraints and any potential contract options that may or may not be awarded in the future, and are at the sole discretion of the award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be taken as a representation by the Company that the Company’s plans, estimates, forecasts, goals, intentions or objectives will be achieved or achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update the information contained in this press release, whether as a result of new developments or otherwise.
Orion Group Holdings Inc.
Francis Okoniewski, Vice President of Investor Relations
Source: Orion Group Holdings, Inc.