McDermott off to a flying start
David Dickson, President and Chief Executive Officer of McDermott International, Inc., is featured on the cover of the November issue of Pipeline Oil & Gas Magazine
. In the article, he discusses the tremendous effort that McDermott and its employees have put into making sure that the company’s combination with CB&I is a success.
“In the past, I have been involved in a number of M&A transactions and I always felt that the biggest failure in all these things has always been the lack of ability to address the whole cultural integration. I’ve seen more recent large M&A’s where there has been challenges regarding culture. So we said from day one that we are going to invest time, effort and money in developing a cultural integration plan,” Mr. Dickson said in the interview.
Mr. Dickson explains three reasons for the combination. First, he wanted a technology portfolio. Second, he wanted to diversify McDermott from being a pure upstream, offshore EPC contractor and finally he wanted to build scale.
In the article, Mr. Dickson stressed how the integration is progressing, but also noted that there is a still a lot of work to be done.
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