Babcock & Wilcox

Corporate Governance

Babcock & Wilcox

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Corporate Governance

Management Team

Kenneth Young

Chairman and Chief Executive Officer

Jimmy B. Morgan

Executive Vice President and Chief Commercial Officer

Cameron Frymyer

Executive Vice President and Chief Financial Officer

Brandy Johnson

Chief Technology Officer

John J. Dziewisz

Executive Vice President, General Counsel and Corporate Secretary

Gillianne Hetrick

Senior Vice President, Corporate Operations

Sarah Serafin

Vice President, Corporate Development

Dr. Homaira Akbari

Non-Executive Advisor

Kenneth Young

Chairman and Chief Executive Officer

Kenneth Young has served as Chief Executive Officer since November 2018 and Chairman since September 2020. He has more than 30 years of global operational, executive and director experience primarily within the energy, communications and finance industries.

Known for strategic acumen and effective transformational leadership, Mr. Young is driving a turnaround at B&W, improving the company’s profitability with solid increases in bookings, revenues and earnings, while reducing its senior debt by more than $200 million. He has led a number of acquisitions to expand the company’s products and services portfolio, and successfully launched B&W’s ClimateBright™ suite of technologies that are providing critical solutions to address global climate change goals, including B&W’s innovative BrightLoop™ hydrogen production and decarbonization technology for power and industrial uses.

Mr. Young previously served as President of B. Riley Financial, Inc., and Chief Executive Officer for B. Riley Principal Investments, a wholly owned subsidiary of B. Riley Financial. Before joining B. Riley, he held executive leadership positions with Lightbridge Communications Corporation (LCC), which was the largest independent telecom construction and services company in the world and a recognized leader in providing network services.

Prior to joining LCC, Mr. Young held C-level positions within several of Liberty Media’s subsidiaries. Prior to Liberty Media, Mr. Young held executive management positions within Cingular Wireless, SBC Wireless, Southwestern Bell Telephone and AT&T as part of his 16-year tenure within the now-combined AT&T Corporation.

Mr. Young holds a Bachelor of Science in Computer Science from Graceland University and a Master of Business Administration from the University of Southern Illinois.

Mr. Young has served on various boards for nine public companies.

Jimmy B. Morgan

Executive Vice President and Chief Commercial Officer

Jimmy Morgan is Executive Vice President and Chief Commercial Officer, responsible for the commercial and business development for B&W’s ClimateBright^™ and BrightLoop^™ suite of products as well as select biomass and waste-to-energy projects that leverage B&W’s new and emerging technologies.

He was named to his current role in January 2025 and has served in a number of senior and executive-level roles with B&W. He was named Chief Operating Officer in August 2020 and Executive Vice President in January 2022. From January 2019 until August 2020, Mr. Morgan was Senior Vice President, responsible for B&W’s global aftermarket, new-build and environmental products and services businesses. In March of 2020 he took on the role as Managing Director of the Company’s Babcock & Wilcox Vølund subsidiary and led B&W’s global licensing activities.

From December 2016 through January 2019, Mr. Morgan led the company’s renewable energy business, including Babcock & Wilcox Vølund and its operations and maintenance services businesses. Prior to that, he was Senior Vice President of Operations, responsible for B&W’s Global Manufacturing, Global Supply Chain Management, Quality, Facility Services, and Environmental, Health, Safety & Security functions. He also was responsible for Babcock & Wilcox Construction Co., LLC.

Mr. Morgan has been in the global energy and construction industry for more than 35 years, and has considerable large project management, operations and construction experience. He joined B&W in February 2016 as Vice President and General Manager, Babcock & Wilcox Construction Co., LLC., serving in that position until he was named Vice President, Operations, in May 2016 and Senior Vice President of Operations in August 2016. Before joining B&W, he was Executive Vice President for Allied Technical Resources, Inc. Previous positions included serving as Chief Operating Officer with BHI Energy, Vice President of Installation and Modification Services with Westinghouse and as Managing Director for AREVA T&D. He began his career with Duke Energy as a Maintenance Engineer at one of the largest operating plants in the United States.

He has a bachelor’s degree in Electrical and Computer Engineering from the University of South Carolina, and a Master’s of Business Administration from the Darla Moore School of Business at the University of South Carolina.

Cameron Frymyer

Executive Vice President and Chief Financial Officer

Cameron Frymyer is Executive Vice President and Chief Financial Officer for Babcock & Wilcox (B&W), a global leader in energy and environmental technologies and services for the power and industrial markets.

He has served in a number of senior-level Finance & Accounting and operational leadership roles during his 27 years with the company. From December 2023 through December 2024, Mr. Frymyer was Senior Vice President of Business Operations, responsible for the day to day operations of the company. Prior to that, he held a number of positions of increasing responsibility, including Business Segment Chief Financial Officer and Vice President, Finance, for The Babcock & Wilcox Company and its former SPIG subsidiary. Additional positions included Vice President, Finance, for the company’s Power and Industrial segments, Finance Director for its Power segment, and Controller for its former Global Power Division.

He also served as Controller for B&W’s former Fossil Power Division (FPD), as Manager, Utility & Industrial Original Equipment Manufacturing Project Accounting, and as Manager of FPD Project Accounting. He joined the company in 1997.

Mr. Frymyer earned a Bachelor’s Degree in Accounting from The University of Akron and a Juris Doctor from The University of Akron School of Law.

Brandy Johnson

Chief Technology Officer

Brandy Johnson is Chief Technology Officer, responsible for the development of B&W’s ClimateBright™ suite of decarbonization and hydrogen production technologies, including the deployment, scale-up and commercialization activities of its BrightLoop™ novel hydrogen generation technology. She was named to this position in 2022.

From April 2020 to May 2022, Johnson was Vice President of Global Engineering, responsible for overseeing all service and OEM proposal and project engineering activities throughout B&W’s global operations. Before that, from June 2018 until April 2020, Johnson was Vice President, Global Projects, responsible for executing and delivering new build and aftermarket projects for boiler and environmental equipment customers around the world.

Previous B&W positions included serving as Vice President, Global Project Development, Director, Supply Management, and Team Champion for the company’s Global Competitiveness Initiative. Johnson joined the company in 1995 as a Field Service Engineer.

She holds a Bachelor’s Degree in Chemical Engineering from Texas A&M University, a Master’s Degree in Business Administration from Kent State University, and an Advanced Master Certificate in Integrated Supply Management from Michigan State University’s Executive Development Program. She is a Registered Professional Engineer in the State of Ohio, a Project Management Institute Certified Project Management Professional, and has completed several advanced leadership development programs, including the 2016 B&W Executive Development Program led by Korn Ferry. She is also a contributing author of the 41st edition of Steam/its generation and use. Published by B&W, it is the world’s longest continually published engineering textbook of its kind.

John J. Dziewisz

Executive Vice President, General Counsel and Corporate Secretary

John Dziewisz is Executive Vice President, General Counsel and Corporate Secretary for Babcock & Wilcox (B&W), which is a global leader in energy and environmental technologies and services for the power and industrial markets.

Dziewisz oversees the legal operations for all B&W business segments as well as Risk Management and Ethics and Compliance. He also serves as the company’s Chief Compliance Officer.

Dziewisz joined B&W in 1997 as an attorney. He subsequently held a number of more responsible positions including Managing Attorney, in which he led the legal activities of multiple B&W business operations, including service, construction and various international operations. From June 2013 until January 2019, Dziewisz served as Assistant General Counsel, Operations & Intellectual Property, responsible for the legal activities for all B&W operations related to proposal/project management, human resources, dispute resolution, intellectual property, business entity formation and mergers & acquisition activities in domestic and international markets. He was named Vice President, Assistant General Counsel and Chief Compliance Officer in January 2019. He was named Senior Vice President, General Counsel and Corporate Secretary in January 2020, and Executive Vice President in January 2022.

A native of Northeast Ohio, Dziewisz graduated from Miami University in Oxford, Ohio, with a Bachelor’s Degree in Business Administration and earned his law degree from the University of Akron. He has also completed numerous leadership and management programs.

Gillianne Hetrick

Senior Vice President, Corporate Operations

Gillianne Hetrick is Senior Vice President, Corporate Operations, responsible for the Babcock & Wilcox (B&W) Human Resources, Environmental Health, Safety & Security, Information Technology, Communications & Marketing, Facility Services, and Global Travel organizations.

She was named to her current role in January 2025 after serving as Vice President, Corporate Operations, since August 2022. Ms. Hetrick joined the company in 2019 and subsequently took on several new roles of increasing responsibility, including for the company’s corporate projects, mergers and acquisitions, real estate management, and IT functions.

Prior to joining B&W, Hetrick held a number of positions at small to mid-sized publicly traded companies, where she led Human Resources, IT and Safety functions, and focused on business strategy, as well as process and operational efficiency improvements.

She has a Bachelor’s Degree in Public Relations, Advertising and Applied Communication from Northern Michigan University. She also is an active supporter of the business community and charitable organizations. Currently, she serves on the Board of Directors of the Greater Akron Chamber, and is the Co-Founder and Director of The Beacon Principle, a non-profit organization that provides programs and support for those serving in the military and emergency services professions.

Sarah Serafin

Vice President, Corporate Development

Sarah Serafin is Vice President, Corporate Development, for Babcock & Wilcox (B&W), a leader in energy and environmental products and services for power and industrial markets worldwide. Serafin leads the company’s merger, acquisition and other corporate development responsibilities.

From 2021 to 2022, she served as Director, Corporate Development & Investor Relations, for B&W. From 2019 until 2021, Serafin was with LPL Financial, the nation’s largest independent broker-dealer, as a senior finance professional with responsibilities for planning, forecasting and business analytics including managing a forecast model of approximately $2 billion in annual gross profit.

Serafin originally joined B&W as Manager, Corporate Development, in 2016 and served in that role until 2019. Before that, she served roles of increasing responsibility within KPMG’s Deal Advisory practice, performing business and financial due diligence focusing primarily on buy-side and sell-side due diligence assistance for private equity firms and their portfolio companies.

Serafin holds both a Bachelor’s and Master’s Degree in Business Administration from the Kelley School of Business at Indiana University and is a Certified Public Accountant.

Dr. Homaira Akbari

Non-Executive Advisor

Dr. Homaira Akbari is CEO of AKnowledge Partners, a global advisory firm specializing in digital transformation and technology sectors of Cybersecurity, IoT, Energy Transition, and FinTech. She serves on the Board of Directors of Banco Santander and Landstar System and is a member of Telefónica Security Advisory Board.

She has held senior management roles in Fortune 1000 companies including Microsoft, Thales, and Liberty Media subsidiary, Trueposition. Dr. Akbari has served as the President and CEO of SkyBitz, Inc., a leading IoT company providing asset tracking and security solutions. Under her leadership, the company had record performance. She successfully sold SkyBitz to Telular Corporation (NASDAQ: WRLS).

She holds a Ph.D. with honors in particle physics from Tufts University and an MBA with distinction from Carnegie Mellon Tepper School of Business. She is the author of more than 50 scientific articles in international journals, has two patents in IoT, and is a frequent speaker in industry conferences. She is a cybersecurity faculty member at the DCRO Risk Governance Institute and a guest lecturer at ecoDa.eu. She has published numerous governance and technology Opinion Editorials and Podcasts, and most recently co-authored the book: The Cyber Savvy Boardroom.

Board of Directors

Kenneth Young

Chairman and Chief Executive Officer

Henry E. Bartoli

Board of Directors

Alan Howe

Lead Independent Director

Joseph Tato

Board of Directors

Rebecca L. Stahl

Board of Directors

Philip Moeller

Board of Directors

Naomi Boness

Board of Directors

Kenneth Young

Chairman and Chief Executive Officer

Mr. Young holds a Bachelor of Science in Computer Science from Graceland University and a Master of Business Administration from the University of Southern Illinois.

Mr. Young has served on various boards for nine public companies.

Henry E. Bartoli

Board of Directors

Henry E. Bartoli, a seasoned executive with more than 35 years of experience in the global power industry, served as Chief Strategy Officer for Babcock & Wilcox from 2018 to 2020. Before that, he was President and Chief Executive Officer of Hitachi Power Systems America, LTD from 2004 to 2014. From 2002 to 2004, he was Executive Vice President of The Shaw Group, after serving in a number of senior leadership roles at Foster Wheeler Ltd. from 1992 to 2002, including Group Executive and Corporate Senior Vice President, Energy Equipment Group, and Group Executive and Corporate Vice President and Group Executive, Foster Wheeler Power Systems Group. Before that, from 1971 to 1992, he served in a number of positions of increasing importance at Burns and Roe Enterprises, Inc.

Mr. Bartoli also serves as a member of the Board of Directors of FERMILAB, United States’ premier particle physics laboratory owned by the U.S. Department of Energy.

Mr. Bartoli received a Bachelor of Science Degree in Mechanical Engineering from Rutgers University and a Master of Science Degree in Mechanical Engineering from New Jersey Institute of Technology.

In addition, Mr. Bartoli has held professional engineering licenses in California, Kentucky and New Jersey and is a former member of the Board of Trustees of Rutgers University. He also is a former member of the Board of Directors of the Nuclear Energy Institute.

Alan Howe

Lead Independent Director

Alan Howe has almost 30 years of extensive hands-on operational expertise combined with corporate finance, business development and corporate governance experience. His broad business background includes exposure to a wide variety of complex business situations within large corporations, financial institutions, start-ups, small-caps and turnarounds.

Currently, Mr. Howe is Managing Partner of Broadband Initiatives, LLC, a small boutique corporate advisory firm that he manages. His specialty is in providing board and C-level leadership working with small-cap and micro- cap companies (both public and private) particularly in turnaround situations. Mr. Howe has served both as a director and as a board chairman in multiple companies in a variety of industries including telecom and wireless equipment, software, IT services, wireless RF services, manufacturing, semiconductors, and storage. In two situations, Mr. Howe was appointed interim CEO of difficult situations where he previously served on the Board of Directors.

Mr. Howe works closely with management of his board companies to provide guidance and direction to create value for shareholders. He also has developed strong relationships with institutional investors and has worked to build a level of trust that he represents their best interests.

He earned a Bachelor’s Degree in Business Administration and Marketing from the University of Illinois and a Master’s of Business Administration and Finance from Indiana University.

Joseph Tato

Board of Directors

Joseph A. Tato has significant leadership experience in the areas of energy and natural resources, infrastructure project development and finance, and has been counsel in some of the largest public-private partnership transactions completed to date including for energy and water projects in the U.S. and globally.

Mr. Tato recently joined Steptoe LLP, as Senior Counsel, responsible for project development and finance as well as energy transactional matters.

Prior to joining Steptoe, from 2020 to 2023, Mr. Tato was Partner at Covington & Burling, LLP and then Senior Counsel in 2024, responsible for Project Development & Finance, as well as a member of its Africa and Latin America Practice Groups. From 2012 to 2020, he was a Partner with DLA Piper, LLP, and Chair of Projects and Infrastructure, as well as Co-Chair of its Energy Sector and a member of its Africa Committee. Before that, from 1983 to 2012, Mr. Tato was an associate and since 1988 a Partner with LeBoeuf, Lamb, Greene & MacRae, LLP (Dewey & LeBoeuf LLP), and served as Chair of Global Project Finance and its Africa Practice.

He has served as Director, Cameroon Enterprises, since 2017. Additionally, he has served as Director, Covanta Energy Corporation, from 2000 to 2004, and as Assistant Secretary and Counsel to the Board of Directors of SITA U.S.A., a subsidiary of Suez, from 1996 to 1999.

Rebecca L. Stahl

Board of Directors

With 25 years’ experience in finance and accounting, Rebecca L. Stahl currently serves as Chief Financial Officer of The Association For Manufacturing Technology (AMT), an organization that represents and promotes U.S.-based manufacturing technology and its members who design, build, sell, and service the industry. Before joining AMT, she held positions of increasing responsibility at Lightbridge Communications Corporation (LCC), a multinational wireless engineering company, including serving as Chief Financial Officer from 2008 to 2015. While at LCC, she led several financing rounds, senior bank refinancing and M&A transactions that led to an eventual sale of the company in 2015.

Prior to LCC, Ms. Stahl was with BT Infonet, a multinational data communications company, as a senior finance professional supporting a $600 million operation. From 1998-2000, she served in corporate finance for The Walt Disney Company in Burbank, Calif. She started her career at Arthur Anderson LLP serving clients of public and private companies in the real estate and financial services industries.

Ms. Stahl is a certified public accountant. She earned a Bachelor of Science in Accounting from The Pennsylvania State University, and a Master of Business Administration from the Anderson School of Management at University of California Los Angeles, with an emphasis in Finance. Her professional affiliations include Women Corporate Directors, the American Institute of Certified Public Accountants and Virginia Society of Certified Public Accountants.

Philip Moeller

Board of Directors

The Honorable Philip D. Moeller served as a Commissioner on the Federal Energy Regulatory Commission (FERC), ending his tenure as the second-longest serving member of the Commission. In office from 2006 through 2015, Mr. Moeller ended his service as the only Senate-confirmed member of the federal government appointed by both President George W. Bush and President Barack Obama.

From 2016 - 2025, Mr. Moeller served as Executive Vice President, Business Operations Group and Regulatory Affairs, at the Edison Electric Institute (EEI). EEI is the association that represents all of the nation’s investor owned electric companies. In his role at EEI, he had significant responsibility over a broad range of issues that affect the future structure of the electric power industry and new rules in evolving competitive markets including energy supply and finance, environment, energy delivery, energy services, federal and state regulatory issues, and international affairs.

Earlier in his career, Mr. Moeller headed the Washington, D.C., office of Alliant Energy Corporation. He also served as a Senior Legislative Assistant for Energy Policy to U.S. Senator Slade Gorton (R-WA), and as the Staff Coordinator of the Washington State Senate Energy and Telecommunications Committee in Olympia, Washington.

Mr. Moeller received a Bachelor of Arts in Political Science from Stanford University.

Naomi Boness

Board of Directors

Dr. Naomi Boness, (Ph.D.), is the Managing Director of the Natural Gas Initiative at Stanford University and Co-Managing Director of the Stanford Hydrogen Initiative. Dr. Boness is an experienced practitioner in the energy sector focused on using her background in reservoir geophysics and technoeconomic modeling to develop technology solutions related to natural gas, hydrogen and decarbonization. In addition to her research, she teaches classes in earth science and energy engineering. She also is passionate about connecting technology developers with industry to accelerate the deployment of new decarbonization technologies at scale.

Prior to Stanford, Dr. Boness held a variety of technical and management positions at Chevron. She is on the Board of Directors at Aemetis, a renewable fuels company, and an advisor to a number of startups in the energy sector. Dr. Boness is a member of the Renewable Natural Gas Coalition Advisory Committee; a member of the Partnership to Address Global Emissions Advisory Council; a member of the Open Hydrogen Initiative Independent Expert Panel; a past invited member of the United Nations Expert Group on Resource Classification; and a past Chair of the Society of Exploration Geophysicists Oil and Gas Reserves Committee. As an advocate for women and gender equality, she is proud to be an Ambassador for the Women in Clean Energy, Education and Empowerment (C3E) Initiative.

Dr. Boness holds a Doctorate in Geophysics from Stanford University, a Master’s Degree in Geological Sciences from Indiana University and a Bachelor’s Degree in Geophysics from the University of Leeds.