Willbros Announces Management Changes and Search for Chief Accounting Officer

HOUSTON, May 17, 2012 /PRNewswire/ -- Willbros Group, Inc. (NYSE: WG) announced today that as a result of the planned retirement of its Vice President Accounting & Tax and Corporate Controller at the end of 2012, it has initiated a search for a Chief Accounting Officer ("CAO"). This separate CAO position has been created to address the increased complexity and size of the Company's operations. The CAO, who will also serve as Corporate Controller, will report to Van Welch, Executive Vice President and CFO. In addition, Willbros has appointed Ed Vasquez to the position of Tax Director to lead the Company's tax department, with responsibility for direction and oversight of all income tax functions; he will report to the CAO.  The Company has also engaged Deloitte Tax LLP to assist in improving its tax process efficiency and enhancing tax compliance.

Randy Harl, President and CEO, commented, "Ron Lefaive, our Vice President Accounting & Tax and Corporate Controller, has elected to retire at the end of the year. We are initiating this search to enable a smooth transition as we strengthen our corporate accounting function to support our growth and continued success. We welcome Ed Vasquez to the Willbros team."

Willbros Group, Inc. is an independent contractor serving the oil, gas, power, refining and petrochemical industries, providing engineering, construction, turnaround, maintenance, life-cycle extension services and facilities development and operations services to industry and government entities worldwide. For more information on Willbros, please visit our web site at www.willbros.com.

This announcement contains forward-looking statements.  All statements, other than statements of historical facts, which address activities, events or developments the Company expects or anticipates will or may occur in the future, are forward-looking statements.  A number of risks and uncertainties could cause actual results to differ materially from these statements, including  the potential for additional investigations and lawsuits; disruptions to the global credit markets; the untimely filing of financial statements; the global economic downturn; fines and penalties by government agencies; new legislation or regulations detrimental to the economic operation of refining capacity in the United States; the identification of one or more other issues that require restatement of one or more prior period financial statements; contract and billing disputes; the integration and operation of InfrastruX; the consequences the Company may encounter if it is unable to make payments required of it pursuant to its settlement agreement of the West African Gas Pipeline Company Limited lawsuit; the existence of material weaknesses in internal control over financial reporting; availability of quality management; availability and terms of capital; changes in, or the failure to comply with, government regulations; ability to remain in compliance with, or obtain waivers under, the Company's loan agreements and indentures; the promulgation, application, and interpretation of environmental laws and regulations; future E&P capital expenditures; oil, gas, gas liquids, and power prices and demand; the amount and location of planned pipelines; poor refinery crack spreads; delay of planned refinery outages and upgrades; the effective tax rate of the different countries where the Company performs work; development trends of the oil, gas, power, refining and petrochemical industries; and changes in the political and economic environment of the countries in which the Company has operations; as well as other risk factors described from time to time in the Company's documents and reports filed with the SEC.  The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

SOURCE Willbros Group, Inc.