UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective as of June 16, 2022, Mr. David E. Simonelli, having served Great Lakes Dredge and Dock Corporation (“the Company”) for forty-four years, most recently as the Company’s Chief Operating Officer, has notified the Company of his impending retirement from the Company, to be effective September 16, 2022. Mr. Simonelli intends to provide consulting services to the Company following his retirement. As a consultant, Mr. Simonelli will report directly to Lasse J. Petterson, the Company’s Chief Executive Officer, and help facilitate the transition of his role as well as support other special projects.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
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99.1 |
Press Release of Great Lakes Dredge & Dock Corporation dated June 23, 2022.
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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GREAT LAKES DREDGE & DOCK CORPORATION |
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Date: June 23, 2022 |
By: |
/s/Vivienne R. Schiffer |
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Vivienne R. Schiffer |
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Senior Vice President, Chief Legal Officer, Chief Compliance Officer and Corporate Secretary |
EXHIBIT 99.1
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News from Great Lakes Dredge & Dock Corporation
For further information contact: Tina Baginskis Director, Investor Relations 630-574-3024
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GREAT LAKES DREDGE & DOCK CORPORATION ANNOUNCES THE RETIREMENT OF CHIEF OPERATING OFFICER, DAVID E. SIMONELLI
HOUSTON, June 22, 2022 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ:GLDD), the largest provider of dredging services in the United States announced today that its Chief Operating Officer, David E. Simonelli, will retire effective September 16, 2022. After his retirement, he will provide consulting services to the Company.
Mr. Simonelli, who has spent forty-four years with Great Lakes, became the President of the Company’s Dredging Division in 2010, and Chief Operating Officer in 2018. His commitment to project and employee safety, environmental protection, and successful project completion has contributed significantly to the Company’s record years of profitability and project successes. In addition to his contributions to the achievements of Great Lakes, he has been recognized for his leadership, innovation, and extensive contributions to the dredging industry. The Incident & Injury Free journey Dave and former CEO Doug Mackie began in 2005 transformed the safety culture of the company and elevated the bar for safe operations for the entire US dredging industry.
Lasse Petterson, President and Chief Executive Officer commented, “Dave Simonelli’s rise through the Company’s ranks has demonstrated his dedication to Great Lakes and all of our employees. He is well known for tackling the toughest projects, the most challenging issues, and doing so with great success. One of Simonelli’s key passions has been to assure that the Bullseye culture remains a key foundation of the Company and as such, he has been a mentor and advisor to several generations of colleagues at Great Lakes who will now build on his legacy for the future. We thank him for his many years of service and know that his retirement is well deserved. We look forward to our continued association with Dave in a different capacity as we complete the transition plan which has been in progress and which will entail an operating structure that best maximizes our growth in the market and in the dredging and offshore wind industries.”
The Company
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its
estimating, production and project management functions. In its over 132-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.