CB&I Says Hello to New Chairman

CB&I unanimously appointed L. Richard Flury as Non-Executive Chairman. Mr. Flury succeeds Jerry H. Ballengee who, in accordance with the company's Articles of Association, retired, effective today, as Non-Executive Chairman and Supervisory Director. Mr. Ballengee served as Non-Executive Chairman since 2006 and as a Supervisory Director since 1997.

"On behalf of the Board and CB&I's 16,000 employees, I would like to express sincere appreciation to Jerry for his tremendous leadership and service to CB&I," said Richard Flury. "It has been a privilege to serve with Jerry and we wish him the best of luck in retirement."

Mr. Flury has served as a Supervisory Director since 2003, and as a consultant to the Supervisory Board since 2002. He is Chairman of the Corporate Governance Committee and a member of the Audit Committee, the Nominating Committee and the Strategic Initiatives Committee. Previously, Mr. Flury served as Chief Executive, Gas and Power for BP plc from 1998 until his retirement in 2001. He served as Executive Vice President of Amoco, responsible for managing the exploration and production sector, from 1996 to 1998. Prior, he served in various other executive capacities with Amoco since 1988. Mr. Flury is also a director of Questar Corporation and Callon Petroleum Corporation.