B&W appoints Jim Ferland president and CEO

Charlotte, N.C., April 4, 2012 — The Babcock & Wilcox Co. announced that E. James "Jim" Ferland, 45, has been appointed president and CEO, effective April 19, 2012.

This news comes after Westinghouse Electric Co. announced April 3 that Ferland resigned as incoming president and CEO of that company, which led Westinghouse to install an interim CEO.

Ferland will succeed Brandon C. Bethards, 64, who will step down as president and CEO of B&W, also on April 19, 2012. Bethards will retire from the company effective at the company's annual stockholders meeting, which will be held on May 8, 2012, at which time he will also resign from the board of directors.

Bethards will remain an advisor to the company for 12 months following the 2012 annual meeting to ensure a seamless transition. Ferland has also been appointed to the B&W board of directors, effective upon becoming president and CEO.

Ferland most recently served as president of the Americas division at Westinghouse, where he led the company's efforts to build customer relationships, develop business plans, capture new markets, and deliver projects and products in North and South America. According to Westinghouse, Ferland was in line to be that company's next president and CEO.

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