CHARLOTTE, N.C.--(BUSINESS WIRE)--
The Babcock & Wilcox Company (B&W) (BWC) announced today that Mark Carano is named Senior Vice President and Chief Corporate Development Officer, effective immediately.
Mr. Carano joins B&W after serving as Managing Director, Investment Banking, for Bank of America Merrill Lynch’s Global Diversified Industrials and Services Group since 2006.
In this new role, Mr. Carano will be responsible for leading B&W’s corporate strategy and merger and acquisition activities. He will provide oversight, leadership and direction as the Company identifies, evaluates and pursues new business opportunities and strategic partnerships.
“Mark is an outstanding addition to B&W’s executive team,” said E. James Ferland, President and Chief Executive Officer, B&W. “His will be a critical role as we work to achieve our strategic goals to drive sustained, year-over-year growth for our shareholders. I’m pleased to welcome Mark to B&W.”
Prior to his tenure at Bank of America Merrill Lynch, Mr. Carano was Vice President, Investment Bank, for Deutsche Banc Alex Brown’s Global Industrials Group from 2000 to 2005. He also served as an investment banking associate for First Union Securities and as a manager of legislative affairs at FMI, a consulting firm based in Washington, D.C.
From 1991 to 1992, he served as a staff advisor on tax, budget and natural resources issues to U.S. Rep. Walter Herger.
Mr. Carano has a Master of Business Administration in Finance and Accounting from Kellogg Business School, Northwestern University. He also has a Bachelor of Arts in History from Vanderbilt University.
Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 14,000 people, in addition to approximately 10,400 joint venture employees. Learn more at www.babcock.com.
Cautionary Statement Regarding Forward Looking Statements
B&W cautions that this release contains forward-looking statements relating to the plans and strategic goals of management. These forward-looking statements involve a number of risks and uncertainties, including, among other things, difficulties in identifying suitable new business opportunities or strategic partnerships, our ability to reach agreement on such opportunities or partnerships and achieve the anticipated benefits, or adverse changes in the industries in which we operate or seek to expand. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see B&W's annual report on Form 10-K for the year ended December 31, 2012 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
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