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Todd Shipyards Corporation Announces Resignation of Its Chief Operating Officer Thomas Van Dawark
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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...July 06, 2006... Todd Pacific Shipyards Corporation,
("Todd" or the "Company"), a wholly owned subsidiary of Todd Shipyards Corporation
(NYSE:TOD), announced today that its President and Chief Operating Officer, Thomas Van
Dawark has resigned effective immediately. Mr. Van Dawark said that he intends to
enjoy more time with his family, provide greater attendance to his community
service responsibilities and pursue part time business interests. The responsibilities
held by Mr. Van Dawark will be assumed by Stephen G. Welch, currently the Chief
Executive Officer of both the Company and its parent Todd Shipyards Corporation.
Mr. Van Dawark had served as President and Chief Operating Officer of the Company
since June, 2003 and prior to that time was President and CEO of Foss Maritime and
its marine subsidiaries.
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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