RigNet, Inc. (Nasdaq:RNET), a provider of managed remote communications solutions to the oil and gas industry, announced that its board of directors has elected James H. Browning as non-executive Chairman.
Mr. Browning served as a partner at KPMG LLP, an international accounting firm, from July, 1980 until his retirement in September, 2009. He began his career at KPMG LLP in 1971, becoming a partner in 1980. Most recently, he served as KPMG's Southwest Area Professional Practice Partner in Houston. He has also served as an SEC Reviewing Partner and as Partner in Charge of KPMG LLP's New Orleans audit practice. Mr. Browning received a B.S. degree in Business Administration from Louisiana State University and is a certified public accountant. In addition to serving on RigNet's board as Co-Chairman and as Chairman of the Audit Committee, he currently serves on the board and Audit Committee of Texas Capital Bancshares, Inc., a publicly traded financial holding company. Mr. Browning said "I am honored to serve as RigNet's Chairman and look forward to working with the board and management to continue our strategic vision in serving RigNet's customers worldwide."
Mark Slaughter, RigNet's chief executive officer, president and board member, said, "Since joining our board at our IPO in December, 2010, Jim has brought a wealth of knowledge and business acumen. We have drawn on his experience over the past few months in his role as Co-Chairman, and we value his insight and leadership as we continue our strategy in 2012 and beyond."
Addressing the communications challenges faced by oil and gas companies today in remote locations, RigNet uses the leading remote communications and IP networking technologies to provide high-quality solutions for broadband data, voice and video communications, as well as real-time data management. RigNet's turnkey solution includes installation, management and support for its customers' communications systems without requiring them to invest in and manage expensive telecommunications equipment. This allows RigNet's customers to enjoy high-quality, state-of-the-art communications services without the high costs and risks associated with an internal solution.