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Babcock & Wilcox Names James Ferland CEO; Backs 2012 View

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The Babcock & Wilcox Co. (BWC: Quote), a provider of clean energy technology, Wednesday announced the appointment of James Ferland as its president and chief executive officer, effective April 19. Ferland will succeed Brandon Bethards, who will retire from the posts on the same date.

Ferland has also been appointed to the B&W Board of Directors, effective upon becoming President and CEO.

The company also reiterated its full-year 2012 outlook issued on February 29. It continues to expect to achieve, on a consolidated basis, double-digit, year-over-year revenue growth.

Bethards will retire from the company and from the Board of Directors, effective at its Annual Meeting of Stockholders, which is scheduled for May 8. However, he will remain an advisor to the firm for the 12 months following the Annual Meeting to ensure a seamless transition, the company stated.

Most recently, Ferland served as President of the Americas division at Westinghouse Electric Co. Prior to joining Westinghouse, Ferland served as Senior Vice President of Utility Operations for PNM Resources, Inc.

John Fees, Chairman of the Board of Directors said, "Jim brings to B&W more than 23 years of experience in the commercial nuclear power and utility industry."

BWC is currently trading at $25.43, down 1.15 percent, on the NYSE.

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by RTT Staff Writer

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