VT Halter Mourns Death of CEO

Tuesday, April 21, 2009

VT Halter Marine announced the loss of its Chief Executive Officer (CEO), Brigadier General Boyd E. King, (Ret.) who passed away unexpectedly on Monday, 20 April 2009 at the company’s Corporate Headquarters in . The cause of death reportedly was a heart attack.

BG (Ret) Boyd King joined VT Halter Marine on December 16, 2002, as CEO. Before his appointment at VTHM, Mr. King was a retired Brigadier General with a 35-year career in the United States Army, culminating in his appointment as Director of Transportation, Energy and Troop Support on the Arm Staff. He was also a graduate of the and the of the Armed Forces.

BG (Ret) King served VT Halter Marine as its CEO for over six years since December 2002. Mr. King, known affectionately throughout the company, industry, and to friends as ‘Butch’, led the company from bankruptcy in 2002 to its reemergence as one of the premier second-tier shipbuilding companies within the

Recognizing the rich history and the eminent reputation held by the ‘Halter’ name, Butch King began rebuilding VT Halter Marine, Inc. one contract at a time. King took the helm of the new company with a backlog of contracts which were either revitalized or renegotiated to put it on solid footing once again.

Since Hurricane Katrina, King, along with VTHM’s Senior Management, were responsible for securing commercial and government contracts and currently VTHM has a construction backlog through 2013.

“The entire Company is in mourning with our sudden and unexpected loss. We have lost a great leader and a true friend. We’re closing ranks and moving forward as he would have insisted,” said William E. Skinner

COO, VT Halter Marine, Inc.

“All of us are deeply saddened at the passing of Butch King, CEO of VT Halter Marine. Butch was a great leader and will be sorely missed. The legacy that he leaves behind is that of a strong and prosperous company that is committed to the customer and to continued success. On behalf of VT Systems, we extend our deepest condolences to Butch’s family during this time of loss,” said General (Ret) John G. Coburn

Chairman and CEO, VT Systems, Inc.

In the interim, VT Halter Marine will be managed by Mr. William (Bill) E. Skinner, Chief Operating Officer (COO), with the support of the management team.

Memorial services will be held Wednesday, April 22nd, from 5:00 – 6:00 pm cst followed immediately by Mass at 6:00 pm at Our Lady of Victories Church in .

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