HOUSTON, April 1, 2013 /PRNewswire/ -- Dune Energy, Inc. (OCTBB:DUNR) today announced that the individuals listed below have been appointed to serve on Dune's board of directors effective March 28, 2013.
Newly Appointed Directors
- Marjorie L. Bowen, 47, has been appointed a member of our Compensation Committee, and will chair our Corporate Governance and Nominating Committee. Ms. Bowen held positions of increasing responsibility from 1989 through 2007 at Houlihan Lokey Howard & Zukin, Inc., an international advisory-focused investment banking firm. While at Houlihan Lokey, Ms. Bowen served as a Managing Director, where she advised an extensive number of public company boards of directors, providing transactional and financial advisory services in a wide range of corporate matters, including mergers and acquisitions, debt and equity reorganizations and other financial and strategic transactions, governance and shareholder issues, and shareholder value maximization. Ms. Bowen was also a member of the firm's Management Committee for Financial Advisory Services. Ms. Bowen also currently serves on the board of Global Aviation Holdings, and serves as Chair of the Audit Committee for that company. Ms. Bowen has previously served on the boards of directors of the Talbots Inc., a publicly traded women's apparel company, Texas Industries, Inc., a publicly traded supplier of heavy construction materials, as well as other privately held company boards, and has had various positions on the audit, compensation, and governance and nominating board committees at these companies. With over 20 years of corporate financial and transactional experience, much of it focused on advising boards of directors across a broad range of industry sectors, Ms. Bowen brings to our Board considerable strategic planning expertise, financial and strategic transactional experience, and broad knowledge on financial and governance matters.
- John R. Brecker, 50, has been appointed a member of the Audit Committee and also the Nominations and Governance Committee. Mr. Brecker has served as an executive with director and management experience in investing and operations, both domestic and internationally; including chemical, retail, auto, and shipping. Mr. Brecker has also served on numerous boards, including Catalyst Paper Corporation as an audit committee member, and Broadview Network Holdings as a compensation committee member. Mr. Brecker has also been the Principal and Co-founder of Longacre Fund Management, L.L.C. Mr. Brecker received his law degree from St. John's University School of Law and his undergraduate from American University.
Ms. Bowen and Mr. Brecker will join other members of the Dune Energy board: Robert Schmitz, Chairman of the Board; James A. Watt, President & CEO; Michael Keener; Dr. Alexander A. Kulpecz; and Eric Stearns.
Mr. Schmitz commented on the appointment of Ms. Bowen and Mr. Brecker to the board, "We are very fortunate to have Marjorie and John join our board. They bring an excellent knowledge base to our board. All of us are excited to work with our management team and investor group to build Dune into a high quality profitable Gulf Coast oil and gas company. "
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FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected drilling and development wells and associated costs, statements relating to estimates of, and increases in, production, cash flows and values, statements relating to the continued advancement of Dune Energy, Inc.'s projects and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Dune Energy, Inc. believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, geological conditions in the reservoir may not result in commercial levels of oil and gas production, changes in product prices and other risks disclosed in Dune's Annual report on Form 10-K filed with the U.S. Securities and Exchange Commission.
CONTACT: Investors, Steven J. Craig, Sr. Vice President Investor Relations and Administration, Dune Energy, Inc., +1-713-229-6300
SOURCE Dune Energy, Inc.