MYR Group Inc. Announces Resignation of John P. Schauerman from Board of Directors
ROLLING MEADOWS, Ill., Nov. 29, 2016 (GLOBE NEWSWIRE) — MYR Group Inc. (“MYR Group” or the “Company”) (NASDAQ:MYRG), a leading specialty contractor serving the electrical infrastructure market in the United States and Canada, announced that, effective November 23, 2016, John P. Schauerman resigned from the Company’s Board of Directors (the “Board”). Mr. Schauerman resigned to pursue other business opportunities.
Bill Koertner, MYR Group’s President and Chief Executive Officer, said, “On behalf of MYR Group’s Board of Directors and management team, we would like to thank Mr. Schauerman for his service to our Company and we wish him well with his future endeavors.”
Mr. Schauerman was appointed to the Board in March 2016. Prior to his resignation, Mr. Schauerman also served on the Company’s Audit Committee and Nominating and Corporate Governance Committee. Before joining the Board, Mr. Schauerman most recently served as Executive Vice President of Corporate Development of Primoris Services Corporation, a specialty construction and infrastructure company.
About MYR Group Inc.
MYR Group is a leading specialty contractor serving the electrical infrastructure market throughout the United States and Canada, and has the experience and expertise to complete electrical installations of any type and size. MYR Group’s comprehensive services on electric transmission and distribution networks and substation facilities include design, engineering, procurement, construction, upgrade, maintenance and repair services. MYR Group’s transmission and distribution customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. MYR Group also provides commercial and industrial electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers generally throughout the western and northeastern United States and western Canada. For more information, visit myrgroup.com.
Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenue, income, capital spending, segment improvements and investments. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “likely,” “unlikely,” “possible,” “potential,” “should” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this announcement speak only as of the date of this announcement; we disclaim any obligation to update these statements (unless required by securities laws), and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Forward-looking statements in this press announcement should be evaluated together with the many uncertainties that affect MYR Group’s business, particularly those mentioned in the risk factors and cautionary statements in Item 1A of MYR Group’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015, and in any risk factors or cautionary statements contained in MYR Group’s subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
CONTACT: Contact Betty R. Johnson, Chief Financial Officer MYR Group Inc., 847-290-1891, email@example.com Kristine Walczak Dresner Corporate Services, 312-780-7240, firstname.lastname@example.org