Williams Industrial Services Appoints Steven D. Davis to Board of Directors
ATLANTA--(BUSINESS WIRE)-- Williams Industrial Services Group Inc. (OTCQX: WLMS) (“Williams” or the “Company”), a construction and maintenance services company, announced today that Steven D. Davis will join its Board of Directors on April 2, 2019. With the addition of Mr. Davis, the Williams Board will now be comprised of six directors, five of whom are independent.
“Steve’s experience brings to us a multifaceted perspective and in-depth understanding of the power and energy markets and we are fortunate to welcome him as a new member of our Board of Directors,” commented Charles Macaluso, Chairman of the Board of Williams. “His deep knowledge of gas and electric utility operations and energy infrastructure, as well as his public company executive experience, complement the skillsets of our current Board members as we lead the Company on its aggressive strategy to grow into a larger and stronger business.”
Mr. Davis served in a variety of positions at Sempra Energy, a Fortune 500 global energy infrastructure and public utility company (NYSE: SRE), and its indirect subsidiaries, Southern California Gas Company (“SCGC”) (OTC: SOCGM) and San Diego Gas & Electric Company (“SDG&E”), from 1980 until his retirement in March 2018. Some of his roles included Corporate Group President – Utilities of Sempra Energy, Executive Vice President – External Affairs and Corporate Strategy of Sempra Energy, and President and Chief Operating Officer of SDG&E. Mr. Davis served as a director of SCGC from 2011 to 2013 and again from 2015 to 2018, including as its non-executive chairman in 2017 and 2018. He also served as a director of SDG&E from 2011 to 2018, including as its non-executive chairman in 2017 and 2018. Mr. Davis previously served on the boards of directors of the U.S Chamber of Commerce and the Edison Electric Institute. He received his Bachelor of Business Administration in Accounting with Honors from San Diego State University.
Williams Industrial Services Group Inc. has been safely helping plant owners and operators enhance asset value for more than 50 years. The Company provides a broad range of construction, maintenance and support services to customers in energy, power and industrial end markets. Williams’ mission is to be the preferred provider of construction, maintenance, and specialty services through commitment to superior safety performance, focus on innovation, and dedication to delivering unsurpassed value to its customers.
Additional information can be found at www.wisgrp.com.
Forward-looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the term set forth in the Private Securities Litigation Reform Act of 1995. These statements reflect the Company’s current views of future events and financial performance and are subject to a number of risks and uncertainties, including its ability to comply with the terms of its debt instruments and access letters of credit and surety bonds, ability to timely file its periodic reports with the U.S. Securities and Exchange Commission (the “SEC”), ability to implement strategic initiatives, business plans, and liquidity plans, and ability to maintain effective internal control over financial reporting and disclosure controls and procedures. Actual results, performance or achievements may differ materially from those expressed or implied in the forward-looking statements. Additional risks and uncertainties that could cause or contribute to such material differences include, but are not limited to, decreased demand for new gas turbine power plants, reduced demand for, or increased regulation of, nuclear power, loss of any of the Company’s major customers, whether pursuant to the loss of pending or future bids for either new business or an extension of existing business, termination of customer or vendor relationships, cost increases and project cost overruns, unforeseen schedule delays, poor performance by its subcontractors, cancellation of projects, competition, including competitors being awarded business by current customers, damage to the Company’s reputation, warranty or product liability claims, increased exposure to environmental or other liabilities, failure to comply with various laws and regulations, failure to attract and retain highly-qualified personnel, loss of customer relationships with critical personnel, volatility of the Company’s stock price, deterioration or uncertainty of credit markets, changes in the economic and social and political conditions in the United States, including the banking environment or monetary policy, and any suspension of the Company’s continued reporting obligations under the Securities Exchange Act of 1934, as amended.
Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s filings with the SEC, including the section of the Annual Report on Form 10-K for its 2017 fiscal year titled “Risk Factors.” Any forward-looking statement speaks only as of the date of this press release. Except as may be required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and you are cautioned not to rely upon them unduly.
Deborah K. Pawlowski
Kei Advisors LLC
Source: Williams Industrial Services Group Inc.
Released March 27, 2019