SUGAR LAND, Texas, Nov. 07, 2023 (GLOBE NEWSWIRE) — Team, Inc. (NYSE: TISI), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, announced today that the Board of Directors has named Michael J. Caliel to the newly-created position of Executive Chairman of TEAM. Mr. Caliel has served as Team’s non-executive Chairman since March 21, 2022. As Executive Chairman, Mr. Caliel will focus on TEAM’s long-term corporate strategy development, including growth opportunities, profit improvement and strategic alternatives to enhance the Company’s enterprise value. Mr. Caliel will also support and advise the management team incorporating longer term objectives with the day-to-day management of the business. Keith Tucker will continue to capably serve as TEAM’s Chief Executive Officer, leading the execution of the Company’s corporate strategies and managing all business operations.
Executive Chairman Michael Caliel commented, “Under Keith’s leadership, TEAM has made tremendous progress strengthening its culture, improving the Company’s financial and operational performance and establishing a solid foundation for future growth. Keith, along with his leadership team, has established a renewed passion for engaging with customers and empowering employees. The Board has confidence in Keith and continues to believe that his operational acumen and leadership will help lead TEAM to continued success. As Executive Chair, I will provide additional support to Keith and his management team as we refine and implement our long-term strategic plans and optimize our global portfolio of businesses in order to unlock the intrinsic value of TEAM.”
Chief Executive Officer Keith Tucker said, “Over the past 18 months, with the ongoing support of our talented team of dedicated employees and our Board, we have delivered improving financial and operational results. TEAM has implemented a series of initiatives that have reduced costs, increased margins, and successfully refinanced our long-term debt. We are excited about the future and we are fortunate to have the benefit of Mike’s expertise in the industrial services sector as we continue to enhance and execute our long-term commercial and strategic vision for the Company.”
Michael J. Caliel is an accomplished Chief Executive Officer and Director with more than four decades of public company experience in the industrial, energy and infrastructure industries. He has extensive knowledge of, and experience in, public company governance, strategy development, mergers and acquisitions, international operations, and finance.
Mr. Caliel is a non-executive Director of Orion Group Holdings (NASDAQ: ORN), a leading specialty construction company, where he serves as a member of the Audit Committee and the Compensation Committee. From 2019 until it was acquired in 2022, Mr. Caliel served as Board Chair and a member of the Compensation Committee for PLH Group, a leading full-service construction and specialty contractor serving the electric power and pipeline markets. In addition, Mr. Caliel previously served as lead operating director at DBi Services, a leading asset management and infrastructure services company, and as an independent director at FCX Performance, a leading process flow control provider.
The National Association of Corporate Directors has designated Mr. Caliel as NACD Directorship Certified and previously as a Governance Fellow.
About Team, Inc.
Headquartered in Sugar Land, Texas, Team, Inc. (NYSE: TISI) is a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services. We deploy conventional to highly specialized inspection, condition assessment, maintenance, and repair services that result in greater safety, reliability, and operational efficiency for our client’s most critical assets. Through locations in more than 20 countries, we unite the delivery of technological innovation with over a century of progressive, yet proven integrity and reliability management expertise to fuel a better tomorrow. For more information, please visit www.teaminc.com.
