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McDermott announces COO John McCormack to retire, effective in 4Q13

McDermott announced that John McCormack, Executive Vice President and COO, has advised the company of his intention to retire, effective in the fourth quarter of this year. McCormack has been with McDermott for ten years and has held his current role since 2011. An internal and external search effort is underway for a successor, whom the company expects to name in the near-term to provide for a smooth transition.