HOUSTON, June 17, 2019 /PRNewswire/ -- ION
Geophysical Corporation (NYSE: IO) today announced the election of
Mr. Michael McGovern to its Board of
Directors, and his appointment to the Compensation Committee of the
Board, effective June 17, 2019.
Mr. McGovern was elected to replace Mr. Franklin Myers, who retired from ION's Board on
June 17, 2019.
Mr. McGovern is currently Chairman and CEO of Sherwood Energy,
LLC, a private company focused on aggregating hydrocarbon reserves
through ownership of working interests in oil and natural gas
leases. He also serves on the boards of Fibrant LLC, a
private chemical manufacturing company, Cactus, Inc., a
manufacturer and designer of wellheads and pressure control
equipment, and Nuverra Environmental Solutions, which provides
delivery, recycling and disposal of materials generated in shale
Mr. McGovern has more than forty years' experience in the energy
industry, and has served as a director and as an executive at
multiple public and private companies. He holds a Bachelor of
Science degree in Business from Centenary
College of Louisiana.
"Serving on the Board of ION has been a very rewarding part of
my career, for which I'm honored and grateful," said Mr.
Myers. "It's very satisfying that my last action as Director
was to elect Mike to the Board. I am confident that his
leadership and experience make him a great asset to ION."
Jay Lapeyre, Chairman of the
Board, said this of the transition, "On behalf of ION, I would like
to thank Franklin Myers for eighteen
years of distinguished service and exceptional contributions to the
Company, for which we are deeply grateful, and I want to extend a
warm welcome to Mike McGovern.
Mike brings great depth of experience and leadership to ION.
His experience in energy and technology will be especially valuable
as we execute on our long-term strategic vision, expand into new
markets and continue to lead in delivering tools that empower
data-driven decision making."
ION develops and leverages innovative technologies, creating
value through data capture, analysis and optimization to enhance
critical decision-making, enabling superior returns. For more
information, visit iongeo.com.
ION (Investor relations)
Executive Vice President and Chief Financial Officer
Steve Bate, +1 281.552.3011
ION (Media relations)
Rachel White, +1 281.781.1168
The information herein contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements may include information and other
statements that are not of historical fact. Actual results may vary
materially from those described in these forward-looking
statements. All forward-looking statements reflect numerous
assumptions and involve a number of risks and uncertainties. These
risks and uncertainties include the risks associated with the
timing and development of ION Geophysical Corporation's products
and services; pricing pressure; decreased demand; changes in oil
prices; and political, execution, regulatory, and currency risks.
These risks and uncertainties also include risks associated with
the WesternGeco litigation and other related proceedings. We cannot
predict the outcome of this litigation or the related proceedings.
For additional information regarding these various risks and
uncertainties, including the WesternGeco litigation, see our Form
10-K for the year ended December 31,
2018, filed on February 8,
2019. Additional risk factors, which could affect actual
results, are disclosed by the Company in its fillings with the
Securities and Exchange Commission ("SEC"), including its Form
10-K, Form 10-Qs and Form 8-Ks filed during the year. The Company
expressly disclaims any obligation to revise or update any
SOURCE ION Geophysical Corporation