MRC Global Inc. (MRC), the global distributor of pipe, valves, and fittings (PVF) and other infrastructure products and services to diversified gas utility, energy, and industrial end-markets, has announced that Daniel Silvers has been appointed to the Company’s Board of Directors, effective immediately. Mr. Silvers will serve on the Board’s Compensation and Environmental, Social, Governance, and Enterprise Risk Committees.
Mr. Silvers’ appointment is made in conjunction with a cooperation agreement that the Company has reached with Engine Capital, L.P. (Engine).
The Cooperation Agreement, which includes certain customary standstill, voting, and other provisions, will be filed by the Company with the U.S. Securities and Exchange Commission as an exhibit to the Current Report on Form 8-K.
J.P. Morgan Securities LLC is serving as the exclusive financial advisor and Akin Gump Strauss Hauer & Feld LLP is serving as legal advisor to MRC Global.