Babcock & Wilcox Enterprises, Inc. announced that Mr. Mark A. Carano, Senior Vice President of the Company's Industrial segment, will step down as an executive officer of the company effective as of October 15, 2018. This action follows the successful sale of the company’s MEGTEC and Universal businesses, leaving only the SPIG business as a much smaller Industrial segment and is in-line with the company's strategy to optimize its overall cost structure by eliminating his position. Upon execution of a mutually acceptable separation agreement, Mr. Carano will receive payments in accordance with the company’s Executive Severance Plan.