Trico Marine Group Appoints New Chairman, President and Interim Chief Executive Officer
May 29 2010 - 2:30PM
Trico Marine Services, Inc. (Nasdaq:TRMA) (the "Company" or
"Trico") today announced the appointment of Richard A. Bachmann as
Chairman of the Board of Directors and interim Chief Executive
Officer of the Company. The Company also announced the appointment
of Rishi A. Varma as President of the Company in addition to his
current role as Chief Operating Officer. The respective
appointments replace Joseph S. Compofelice as the Company's
Chairman, President and Chief Executive Officer.
Mr. Bachmann has served as a director of the Board of Directors
of the Company since 2005 and, prior to this appointment, served as
the lead director and Chairman of the Board's Nominating and
Governance Committee. In February 1998, Mr. Bachmann founded Energy
Partners, Limited, an independent exploration and production
company focused on deep water of the Gulf of Mexico and the
continental shelf, and served as its Chairman and Chief Executive
Officer from February 1998 until March 2009.
Mr. Varma joined Trico in May 2005 as Trico's General Counsel,
Corporate Secretary and Director of Corporate Governance, and has
since held positions of increasing responsibility. Mr. Varma became
a Vice President in June 2006 and was appointed Chief
Administrative Officer in March 2007. He was appointed to
Senior Vice President and Chief Operating Officer in December
2009. From February 2003 until April 2005, Mr. Varma was
Securities Counsel and Director of Corporate Governance with EGL,
Inc., an international logistics company. From February 2000 to May
2002, Mr. Varma was an associate in the Business and Technology
group of the law firm of Brobeck, Phleger and Harrison, L.P. From
August 1997 until January 2000, Mr. Varma was an associate in the
corporate department of the law firm of Rosenman & Colin,
LLP.
About Trico Marine Group
The Trico Marine Group is an integrated provider of subsea,
trenching and marine support vessels and services.
Trico's towing and supply division provides a broad range of marine
support services to the oil and gas industry through use of its
diversified fleet of vessels including the transportation of
drilling materials, supplies and crews to drilling rigs and other
offshore facilities; towing drilling rigs and equipment, and
support for the construction, installation, repair and maintenance
of offshore facilities. Trico's subsea services and
trenching/installation divisions control a well equipped fleet of
vessels and operate a fleet of modern ROVs and trenching and other
subsea protection equipment. The Trico Marine Group is
headquartered in The Woodlands, Texas and has a global presence
with operations in the North Sea, West Africa, Mexico, Brazil and
Southeast Asia.
For more information about Trico Marine Services, Inc. visit us
on the web at www.tricomarine.com.
The Trico Marine Services, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5229
Certain statements in this press release that are not historical
fact may be "forward-looking statements." Actual events may differ
materially from those projected in any forward-looking statement.
There are a number of important factors involving risks and
uncertainties beyond the control of the Company that could cause
actual events to differ materially from those expressed or implied
by such forward-looking statements. A description of risks and
uncertainties relating to Trico Marine Services, Inc. and its
industry and other factors, which could affect the Company's
results of operations or financial condition, are included in the
Company's Securities and Exchange Commission filings. Trico
undertakes no obligation to publicly update or revise any
forward-looking statements to reflect events or circumstances that
may arise after the date of this report.
CONTACT: Trico Marine Services, Inc.
Geoff Jones, Senior Vice President, Chief Financial
and Administrative Officer
(713) 780-9926
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