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Babcock & Wilcox Appoints James Ferland As President, CEO - Quick Facts

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4/4/2012 7:07 AM ET

The Babcock & Wilcox Co. or B&W (BWC: Quote) said it has named James (Jim) Ferland as President and Chief Executive Officer, effective April 19, 2012. Ferland would succeed Brandon Bethards, who would step down as President and CEO of B&W, also on April 19, 2012. Bethards would retire from the company effective at the company's Annual Meeting of Stockholders, which is slated to be held on May 8, 2012, at which time he would also resign from the board.

To ensure a seamless transition, Bethards would remain an advisor to the company for 12 months following the 2012 Annual Meeting. Ferland has also been named to the B&W board, effective upon becoming President and CEO. Most recently, Ferland served as President of the Americas division at Westinghouse Electric Company, where he led the company's efforts to build customer relationships, develop business plans, capture new markets, and deliver projects and products in North and South America.

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