Dril-Quip announces management changes

Dril-Quip, Inc. announced that J. Mike Walker has retired and is stepping down from his positions as chairman of the board, CEO, and as a board member.

Offshore staff

HOUSTON– Dril-Quip, Inc. announced that J. Mike Walker has retired and is stepping down from his positions as chairman of the board, CEO, and as a board member.

As a result of Walker's retirement, the board of directors has appointed John V. Lovoi as chairman of the board, Blake T. DeBerry as president and CEO, and James A. Gariepy as senior vice president and COO. DeBerry was also appointed as a member of the board of directors to replace Walker.

Lovoi has been a director since May 2005, is also chairman of the Nominating, Governance and Compensation Committee, and a member of the Audit Committee of the board of directors. He is the managing partner of JVL Advisors LLC, a private energy investment company, and is also a director of Helix Energy Solutions Group.

DeBerry has been an employee of the company since 1988 and has held a number of management and engineering positions in the company's domestic and international offices, most recently serving as senior vice president - sales and engineering.

Gariepy has held domestic and international management positions since joining the company in 2004 and most recently served as senior vice president - manufacturing, project management and service.

10/21/2011

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