Technip S.A. (Euronext: TEC) and FMC Technologies, Inc. (NYSE: FTI) today announced their respective designees to the Board of Directors of the combined company, TechnipFMC, effective at the close of the proposed combination.

The Board of Directors of the combined company will comprise 14 directors, seven designated by FMC Technologies and seven designated by Technip as set forth below. FMC Technologies will appoint the initial Independent Lead Director, in accordance with the terms of the Business Combination Agreement. The Board of Directors will have four committees: Audit, Nominating and Governance, Compensation, and Strategy. The committee chairs and Independent Lead Director are indicated below.

The slate of directors nominated by Technip is:

• Thierry Pilenko, future Executive Chairman of TechnipFMC and designated Chair of the Strategy Committee

• Arnaud Caudoux (Bpifrance designee)

• Pascal Colombani

• Marie-Ange Debon (designated Chair of the Audit Committee)

• Didier Houssin

• John O'Leary

• Joseph Rinaldi

The slate of directors nominated by FMC Technologies is:

• Douglas J. Pferdehirt, future Chief Executive Officer of TechnipFMC

• Eleazar de Carvalho Filho

• Claire S. Farley

• Peter Mellbye (designated Chair of the Nominating and Governance Committee)

• Richard A. Pattarozzi (designated Independent Lead Director)

• Kay G. Priestly

• James M. Ringler (designated Chair of the Compensation Committee)

As previously announced, the transaction is expected to be completed in early 2017 and is subject to approval by FMC Technologies' and Technip's stockholders, the receipt of required antitrust and regulatory clearances and other customary closing conditions.