THE WOODLANDS, Texas,
Feb. 25, 2019 /PRNewswire/
-- TETRA Technologies, Inc. ("TETRA") (NYSE:TTI) announced
today that Stuart M. Brightman,
Chief Executive Officer and a director of TETRA, has advised the
Board of Directors of his intent to retire from his role as Chief
Executive Officer immediately following the Annual Meeting of TETRA
stockholders on May 3, 2019. In
connection with Mr. Brightman's planned retirement, the Board of
Directors of TETRA has appointed Brady M.
Murphy, as Chief Executive Officer, to be effective on Mr.
Brightman's retirement. Mr. Murphy joined TETRA in February
of 2018 and is currently President, Chief Operating Officer, and a
director of TETRA.
William D. Sullivan, Chairman of
the Board of TETRA, said, "The Board thanks Stu for his commitment,
leadership and many contributions to TETRA over his 14 years with
TETRA. It has been a pleasure to work with Stu, and we are
pleased that Stu will continue to be involved with TETRA in a
non-executive role. Stu has served as TETRA's Chief Executive
Officer for almost 10 years. Over that time he has lead and
impacted many important changes. As a result, we believe
TETRA is well positioned to grow and deliver value into the
future. It is our pleasure to congratulate Stu on his
outstanding career, and his planned retirement. One of Stu's
key contributions is the development of TETRA's current senior
leadership team. We have enjoyed working with Brady this past
year. His leadership and extensive experience have had a
positive impact on TETRA, and we are confident Brady will provide
strong and effective leadership for TETRA's future. We
anticipate a smooth transition for Brady into his new role, and we
look forward to working with Brady and the leadership team going
forward."
Mr. Brightman said, "It has been an honor to serve as TETRA's
CEO over the past 10 years. I want to thank our Board,
executive team and all our employees for their full support.
I am confident that under Brady's leadership TETRA will
continue to create value for its stakeholders, leveraging the
strength of our portfolio of businesses and exceptional
employees."
Mr. Brightman has been nominated for election to TETRA's Board
of Directors for an additional one year term, from May 2019 to May 2020. Mr. Brightman will
continue as a non-executive employee, and will be available to
support the board and management in an advisory role.
Since May 2014, Mr. Brightman has
also been the Executive Chairman of the Board of CSI Compressco GP
Inc. ("CCGP"), the general partner of CSI Compressco LP (NASDAQ:
CCLP), a partially owned subsidiary of TETRA. Mr. Brightman
has also advised of his intent to retire from the board of CCGP
after the 2019 Annual Meeting of the TETRA stockholders. It
is anticipated that Mr. Murphy will be named Executive Chairman of
the Board of CSI Compressco GP Inc at that time. Mr. Murphy
has been a member of the CCGP Board since February 21, 2018.
Company Overview
TETRA is a geographically diversified oil and gas services
company, focused on completion fluids and associated products and
services, water management, frac flowback, production well testing,
and compression services and equipment. TETRA owns an equity
interest, including all of the general partner interest, in CSI
Compressco LP (NASDAQ:CCLP), a master limited partnership.
Visit TETRA's website at www.tetratec.com.
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SOURCE TETRA Technologies, Inc.