Orion Group Holdings names Austin Shanfelter Interim CEO; Stauffer steps down

Orion Group Holdings Inc

Mark R. Stauffer separated as President, CEO, and board member effective April 6, 2022; consulting through June 30 at $13,900/week.
Austin J. Shanfelter, Board Chairman, appointed Interim CEO and Interim CFO; Richard L. Daerr, Jr. named Lead Independent Director.
Company reaffirms FY2022 adjusted EBITDA guidance of mid-$30 million range.
Board initiates search for permanent CEO via executive search firm.
Stauffer receives cash severance per employment agreement plus accelerated equity vesting for awards through Aug 31, 2022.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

Austin J. Shanfelter

Interim Chief Executive Officer and Interim Chief Financial Officer

ORN · Orion Group Holdings Inc

Effective: 2022-04-06
Filed: April 12, 2022, 7:59 PM ET

Effective April 6, 2022, the Board appointed Austin J. Shanfelter, age 64, as the Company’s Interim Chief Executive Officer and Interim Chief Financial Officer.

Departed (interim)

Mark R. Stauffer

President, Chief Executive Officer, and Interim Chief Financial Officer

ORN · Orion Group Holdings Inc

Effective: 2022-04-06
Successor: Austin J. Shanfelter
Filed: April 12, 2022, 7:59 PM ET

Effective April 6, 2022, Mark R. Stauffer, the President, Chief Executive Officer, and Interim Chief Financial Officer, of Orion Group Holdings, Inc. (the “Company”), and a member of its Board of Directors separated from the Company in all capacities.

Role change

Richard L. Daerr, Jr.

Lead Independent Director

ORN · Orion Group Holdings Inc

Effective: 2022-04-06
Filed: April 12, 2022, 7:59 PM ET

In connection with Mr. Shanfelter’s appointment, the Board has designated Richard L. Daerr, Jr., a current member of the Board, as Lead Independent Director.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Austin J. Shanfelter was appointed as Interim Chief Executive Officer and Interim Chief Financial Officer at Orion Group Holdings Inc.

Action: appointed
Role: Interim Chief Executive Officer and Interim Chief Financial Officer

Exact text from the filing

Effective April 6, 2022, the Board appointed Austin J. Shanfelter, age 64, as the Company’s Interim Chief Executive Officer and Interim Chief Financial Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark R. Stauffer departed as President, Chief Executive Officer, and Interim Chief Financial Officer at Orion Group Holdings Inc.

Action: separated
Role: President, Chief Executive Officer, and Interim Chief Financial Officer

Exact text from the filing

Effective April 6, 2022, Mark R. Stauffer, the President, Chief Executive Officer, and Interim Chief Financial Officer, of Orion Group Holdings, Inc. (the “Company”), and a member of its Board of Directors separated from the Company in all capacities.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

Richard L. Daerr, Jr. changed role as Lead Independent Director at Orion Group Holdings Inc.

Action: designated
Role: Lead Independent Director

Exact text from the filing

In connection with Mr. Shanfelter’s appointment, the Board has designated Richard L. Daerr, Jr., a current member of the Board, as Lead Independent Director.

View on SEC.gov

Orion Group Holdings Inc filing history →

Source: SEC EDGAR

accession 0001402829-22-000019

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