David Weinstein Elected President, CEO of ABS Group of Companies, Inc.

New leadership to pursue acquisitions, growth for class society affiliate

The Board of Directors of the ABS Group of Companies, Inc. (ABS Group) has elected David Weinstein to the position of President and Chief Executive Officer. ABS Group is a wholly owned affiliate of leading classification society ABS. Weinstein, currently ABS Vice President of Strategic Development, also was elected to the Board of Directors of the ABS Group. He replaces Tony Nassif who was recently elected Executive Vice President and Chief Operating Officer of ABS.

The ABS Group is the holding company for the three operating entities: ABSG Consulting Inc., (ABS Consulting), EQECAT, Inc., and ABS Quality Evaluations, Inc. These entities offer a comprehensive portfolio of integrated safety, risk and integrity management services.

Weinstein joined ABS in October 2010 after more than 25 years as a strategy consultant in the transportation, energy and manufacturing sectors. Prior to joining ABS, he was a partner in several consulting firms including Norbridge, Accenture and Oliver Wyman, serving a global clientele. As a consultant, Weinstein worked closely with ABS, assisting in strategic development.

“ABS Group is a successful, profitable and rapidly growing contributor to the overall success of ABS,” said Robert D. Somerville, Chairman of ABS and ABS Group of Companies. We are continuously looking for opportunities to strengthen our position as the leading provider of enterprise risk management solutions, particularly those in the marine, offshore and energy sectors. David brings a comprehensive knowledge of the entire ABS organization and of our principal market sectors that we expect to grow through expansion and targeted acquisitions.”

“The ABS Group has continued to record steady, profitable growth despite the recent global economic and financial difficulties,” said Somerville. “That performance has placed us in a very strong position to benefit from the recovery, of which the first signs are now clearly evident. We see a very promising future for each of the ABS Group’s operating subsidiaries and David will provide the strategic leadership needed to benefit from these trends.”

In an associated move, David Walker, currently President of ABS Consulting has been appointed Chief Operating Officer of the ABS Group. The new COO responsibilities will be in addition to those he has as President of ABS Consulting.

Walker’s background includes more than 20 years in risk management, process safety, loss prevention, incident investigation/root cause analysis, system reliability, and asset integrity management.