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Exponent announced that its board appointed Catherine Corrigan as its CEO and president, and Paul Johnston, 64, as its executive chairman at its board meeting on May 31. Additionally, John Shoven, was appointed lead independent director. These changes are consistent with the executive transition plan previously announced on December 7, 2017. Corrigan joined Exponent 21 years ago and has assumed increasingly responsible positions over time. Most recently as president, she was responsible for management of all the company's consulting groups and business development activities. She was previously group VP of the transportation group and joined the company's operating committee in 2012.

Exponent announced that its board has approved a two-for-one stock split of its common stock and a change in the number of authorized shares of common stock to 120M, each subject to stockholder approval of both the split and the change in authorized shares at the 2018 annual meeting of stockholders on May 31. If Exponent's stockholders approve the stock split and the change in authorized shares, each stockholder of record at the close of business on May 31 will receive one additional share of common stock for every outstanding share of common stock held on the record date. Upon completion of the stock split, Exponent will have approximately 52M shares of common stock outstanding.

"Our outlook reflects positive momentum in the business, as well as the expected deceleration of the ongoing human factors assessment project in 2018. We are improving our expectations for the full year 2018. We now expect revenues before reimbursements to grow in the mid- to high- single digits and EBITDA margin to decline by approximately 50 to 100 basis points, as compared to 2017. As previously discussed, we continue to believe that Exponent's consolidated income tax rate will be approximately 22% to 23% for 2018, after including the estimated tax adjustments associated with share-based awards. This tax rate range is approximately ten percentage points lower than it would have been as a result of the new Tax Legislation," commented Richard Schlenker, Executive Vice President and CFO.