McDermott International Inc. on Nov. 5 appointed Chris Krummel as executive vice president and CFO, effective immediately.
Krummel joined McDermott in 2016 and previously served as the company’s global vice president, finance and chief accounting officer. He replaces Stuart Spence, who has resigned from McDermott to pursue other opportunities.
“Chris has worked closely and collaboratively with our leadership team for the past three years and has clearly demonstrated the business and financial acumen that McDermott needs,” David Dickson, McDermott’s president and CEO, said.
Krummel has 25 years of finance leadership experience. Prior to joining McDermott, he served as: a consultant of American Industrial Partners, a firm engaging in private equity investments in industrial businesses in the United States and Canada; CFO and vice president of EnTrans International LLC; and chief accounting officer, vice president and corporate controller/vice president of finance of Cameron International.
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A key factor in the economic development of unconventional resources is determining optimal well spacing. As development of unconventional play progresses, wells naturally become spaced closer together.