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Admiral J. Paul Reason, U.S. Navy (Ret.) Named to Join Todd Shipyards Corporation Board of Directors
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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 11, 2007...Todd Shipyards Corporation
(NYSE:TOD) ("Todd" or the "Company") announced that Admiral J. Paul Reason,
U.S. Navy (Ret.) has been named to join the Board of Directors of the Company
as a replacement for Admiral David E. Jeremiah, U.S. Navy (Ret.), who is
retiring from the Board having reached mandatory retirement age. Admiral Reason
is nominated to be elected to the Board of Directors at the Company's annual meeting
of shareholders in August.
Admiral Reason is a former Commander in Chief of the U.S. Atlantic Fleet and
Naval Aide to the President of the United States and currently serves on the
Board of Directors of two Fortune 500 companies, Amgen, Inc., and Norfolk
Southern Corporation. Since his retirement from the Navy in 1999, Admiral
Reason has held several top corporate leadership positions, including President
and COO and Vice Chairman of Metro Machine Corporation, a company that conducted
all manner of ship repair projects from complex overhaul of naval ships to dry-docking
repairs in Virginia and Pennsylvania.
Admiral Reason spent more than 34 years in the U.S. Navy, rising from Ensign
to the pinnacle of leadership as a four star Admiral. His many assignments in
the Navy included service as Commander of Naval Base Seattle in 1986-1988. Admiral
Reason has also served on the Board of Directors of Wal-Mart Stores, Inc. and
is a member of the Naval Studies Board of the National Academy of Sciences. He is a
graduate of the U.S. Naval Academy with a master's degree in computer systems
management.
Admiral Jeremiah is a former Vice Chairman of the Joint Chiefs of Staff
and Commander in Chief of the U.S. Pacific Fleet and has been on the Todd
Board of Directors since 2003.
Todd Pacific 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 fabrication services for a wide variety of customers. Its
customers include the U.S. Navy, the U.S. Coast Guard, NOAA, the
Washington State Ferry system, the Alaska Marine Highway System, and various
other commercial and governmental customers. Todd has operated a shipyard
in Seattle since 1916.
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