BUSINESS: Orion Group Holdings, Inc. Announces Chief Financial Officer Reorganization

dWeb.News Article from Daniel Webster dWeb.News

dWeb.News Article from Daniel Webster dWeb.News

by Daniel Webster, dWeb.News Publisher

HOUSTON–(BUSINESS WIRE)–Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced Robert L. Tabb will step down as Executive Vice President and Chief Financial Officer effective October 29, 2021, to pursue a new opportunity with a private company that is not a competitor. His duties will be carried out by the senior management team, in collaboration with the finance department leadership, while the Company conducts a formal search for a CFO.

Robert L. Tabb has served as Orion’s Chief Financial Officer since March 2019, after serving as Interim CFO since November 2018, and is leaving to pursue a new opportunity outside of Orion. Robert Tabb said, “My time at Orion was a very rewarding experience for me professionally.” “I am proud to have been CFO for seven years and I have every confidence that the leadership team will continue to execute our strategy.”

Mark Stauffer, Orion President and Chief Executive Officer, said, “Robert has been an integral part of the Orion team for 7 years.” “Robert has been a strong leader in positioning Orion for long-term success and has been a great CFO over the last three years. We wish him all the best in his future endeavors.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment offers construction and dredging services related to marine transportation facility construction, Marine Pipeline Construction, Marine Environmental Structures, Dredging of Waterways, Channels and Ports, Environmental Dredging, Design, and Specialty Services. Its concrete segment offers turnkey concrete construction services, including pour and finish, dirtwork, layout, shaping, rebar and mesh across light commercial, structural, and other related business areas. The Company’s headquarters is in Houston, Texas. It has regional offices throughout its areas of operation.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Forward-looking statements can be identified using forward-looking terminology such as believes’, ‘expects’,

Forward-Looking Statements1995 The Company is availing of the Private Securities Litigation Reform Act of 14. Forward-looking statements include statements about future operations and results, including statements made in this press release or any other statement, whether express or implied. These statements include statements regarding future income, net income or profit, future generation of revenues, income, net loss, profit, EBITDA margin, cash flow, including the service of debt, as well as any estimates, forecasts, assumptions or assumptions regarding future revenues and revenue growth. Forward-looking statements include estimates of project start dates, anticipated revenues, as well as contract options that may or may not get awarded in the future. Forward-looking statements are subject to risks, including those related to the Company’s fixed-price contracts, which can impact profits and unforeseen productivity delays that could alter the final profitability. The customer may cancel the contract for unforeseeable reasons. There may also be delays or decreases in funding. The customer may also have to decide whether or not to award future contract options. Past performance does not necessarily indicate future results. These and other uncertainties mean that forward-looking statements included in this press release should be considered as an indication by the Company of the Company’s plans or estimates, forecasts goals, intentions, objectives, or goals. These forward-looking statements are only accurate as of the date they were made. The Company does not assume any obligation to update the information in this press release, regardless of whether new developments have occurred or not.

Please refer to the Company’s Annual Report on Form 10-K, filed on March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

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