Team Inc. adds two board members, leadership changes announced

Team Inc. (NYSE: TISI) announced changes to its board of directors effective October 24, 2025, according to a company statement.

The Sugar Land, Texas-based industrial services provider appointed K. Niclas Ytterdahl and Michael D. Stewart to its board. Both nominees were put forward by Stellex Capital Management as part of agreements connected to Stellex's September investment in the company.

Jeffery G. Davis will step down from the board effective December 31, 2025. Davis joined the Team Inc. board in 2016.

Michael J. Caliel returned to the role of Chairman of the Board, giving up his position as Executive Chairman. Caliel had served as Executive Chairman since November 2023.

The board will consist of nine members following these changes, decreasing to eight after Davis's departure at year-end.

Ytterdahl previously served as Executive Chairman and COO of Industrial Service Solutions from 2020 to 2023. He was CEO and President of Dover Vehicle Service Group from 2014 to 2019 and held senior positions at Dover Corporation, AES Corporation, and Fisher Scientific. He currently serves on boards of several privately held companies.

Stewart is a founder and Managing Partner of Stellex. Before establishing Stellex in 2014, he was a Partner at The Carlyle Group and a Managing Director. He currently serves on boards of several privately held companies.

Team Inc. provides specialty industrial services including mechanical, heat-treating, and inspection services across more than 13 countries.

You May Also Be Interested In

• Hertz cuts guidance, announces notes and stock offerings, shares sink
• Lead Real Estate plans two new Tokyo properties in Ginza, Shinjuku
• AMC Robotics leases Vietnam facility for NovaArm production