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Todd Shipyards Corporation Announces Retirement of Its Chief Financial Officer and Appointment of Berger A. Dodge As Its New Chief Financial Officer
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Via Facsimile
Total Pages - 1
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Contact: Hilary Pickerel
Shareholder Relations
206-623-1635 Ext. 106
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SEATTLE, WASHINGTON...June 26, 2006... Todd Shipyards Corporation
("Todd" or the "Company") (NYSE:TOD) announced today that its Chief Financial
Officer, Scott H. Wiscomb, is retiring from full time employment with the Company
effective June 30, 2006. Mr. Wiscomb has served in his capacity of Treasurer and
Chief Financial Officer since joining the Company in 1997. Prior to his
service at Todd, Mr. Wiscomb served in a number of different financial capacities
with Atlantic Richfield Company ("ARCO") for 22 years culminating in his
position as Vice President of Finance and Administration of ARCO's
Australian coal operations. Mr. Wiscomb, age 60, will continue to work with
Todd on a project consulting basis.
Todd's Board of Directors has elected Berger A. Dodge as the Company's new
Treasurer and Chief Financial Officer effective June 30, 2006. Mr. Dodge, age 37,
has been with the Company since 2003 serving most recently as its Manager of
Planning and Financial Analysis. Prior to joining Todd, Mr. Dodge worked as
a Senior Associate with a private investment firm in Bellevue, Washington
after having spent several years in the operations group of Tower Group International
in Seattle, Washington. Mr. Dodge earned his Bachelor of Arts
degree (cum laude) from Boston University and holds an MBA degree
(in Finance and Accounting) from the University of Washington.
Todd's wholly owned subsidiary Todd Pacific Shipyards Corporation performs a
substantial amount of repair and maintenance work on commercial and
federal government vessels engaged in various seagoing trade activities in
the Pacific Northwest and provides new construction and industrial services
to a variety of customers. Its customers include the U.S. Navy, the U.S.
Coast Guard, NOAA, the Washington State Ferry system and various other
commercial and governmental customers. Todd Shipyards Corporation has operated
a shipyard in Seattle since 1916.
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