Dresser-Rand Welcomes New CFO

Dresser-Rand Group Inc. announced Wednesday that Jan Kees van Gaalen will become executive vice president and chief financial officer of Dresser-Rand, effective May 1. Mr. van Gaalen succeeds Mark Baldwin, whose impending retirement was previously announced.

Mr. van Gaalen joins Dresser-Rand from Baker Hughes Inc., a public company and leading provider of drilling, formation evaluation, completion and production products and services to the oil and gas industry, where he served as Vice President and Treasurer. Before joining Baker Hughes, he was the Chief Financial Officer and Vice President Finance for PT Inco Tbk based in Jakarta, Indonesia, the publicly traded Indonesian subsidiary of Vale Inco Ltd. Prior to this he held a variety of finance positions with Anglo American plc, Carlton Communications plc and Schlumberger Ltd. in France, the United Kingdom, Venezuela, Brazil and South Africa.

Mr. van Gaalen is fluent in English, German, Dutch, Portuguese, French, and Spanish. He received his bachelor's degree in economics from the Erasmus University in Rotterdam, Netherlands and his MBA from the HEC Management School in France.

Vincent R. Volpe, Jr., Dresser-Rand's President and CEO, said, "We are delighted to welcome Jan Kees as a member of our leadership team. Jan Kees' knowledge of our industry, along with his strong financial and operational pedigree and vast international experience provides him a solid platform for the role of Chief Financial Officer of Dresser-Rand. We look forward to Jan Kees' contributions as a member of the Executive Staff, and to our continued progress in developing a world-class financial team."

"I want to again recognize Mark Baldwin for his service to Dresser-Rand and thank him for the fine job he has done over the past five and one-half years building a strong finance team. During Mark's tenure, we substantially strengthened our internal governance processes, created a culture of discipline, completed successful acquisitions, and developed our public company relationship with an independent Board of Directors and the community of investment analysts. I am also pleased that Mark will be available to assist the Company during the transition period with Jan Kees, said Volpe."


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