Fluor Corporation's (NYSE:FLR) board of directors announced today the
election of Philip J. Carroll as chairman and chief executive officer,
effective July 1998. Carroll, age 60, who will retire as president and
chief executive officer of Shell Oil Company on June 30, will succeed
Peter J. Fluor, who has served as Fluor's non-executive chairman
following the health-related early retirement of Leslie G. McCraw in
January of this year. Until the transition date, the company will
continue to conduct its affairs through the Office of the Chairman,
headed by Peter Fluor.
Bobby Inman, chairman of the Fluor board's Organization and Compensation
committee, said, "Phil Carroll brings great energy, chemical and process
industry experience, proven global leadership skills and a demonstrated
track record of building shareholder value. We are very optimistic about
the company's future prospects. Given the rapidly changing economic
landscape, the board concluded that adding his broad-gauged experience
in the international arena and understanding of Fluor's businesses from
the perspective of our clients and customers will be an outstanding
combination with the management team already in place. On behalf of the
board, I would like to thank Peter Fluor for his willingness to serve
and his very valuable contributions to the company during this senior
management transition."
"I am honored to join Fluor and have the opportunity to be a part of
such a dynamic, world-class organization. Its reputation in the
engineering and construction and coal industries is second to none. My
career in the energy industry has allowed me to experience first-hand
the value Fluor brings to its clients and how the quality of its people,
services and coal products separates it from the competition," said
Carroll. "I look forward to joining the Fluor team and achieving the
results our clients, customers, employees and stockholders expect."
Peter Fluor said, "It has been my pleasure, as chairman, to have had the
opportunity to work directly with such a fine group of professionals. I
am deeply impressed with the high regard in which Fluor's businesses are
held by its clients and customers, and with the resources, work ethic
and tremendous potential which permeate Fluor. The company has the
managerial, technical and creative talent and direction to successfully
lead the engineering and construction and coal industries well into the
next century, and the company and Phil will have my continued support as
a member of the board of directors."
Carroll's unanimous election on Tuesday, April 14, by the Fluor board of
directors culminates a four-month search for a successor to long-time
Fluor veteran, Les McCraw. The board's Organization and Compensation
committee members considered a wide range of internal and external
candidates but enthusiastically selected Carroll because he was best
qualified for the position and met the board's criteria for an ideal
candidate.
Carroll began his career with Shell Oil in 1961 as a petroleum engineer.
In the early 1970s, he worked for the U.S. Department of Commerce as
director, Energy Conservation Division, and served as the executive
director, National Industrial Energy Conservation Council. He returned
to Shell in 1974 in Exploration and Production, holding increasingly
more advanced positions in that company's operations, plans,
administration and public affairs. In the mid-1980s, he was managing
director, Shell International Gas/International Petroleum Company,
London, England. He returned to Shell Oil Company in 1986 as head of
administration, and was elected president and chief executive officer in
1993. Carroll is a member of the board of Shell Oil and Boise Cascade,
and is a director of numerous petroleum industry associations,
professional engineering organizations, educational institutes, and
philanthropic and civic groups. Carroll and his wife, Charlene, reside
in Houston, Texas, and have three children and two grandchildren. Mr.
and Mrs. Carroll will relocate to Southern California.
Fluor Corporation (NYSE:FLR) is a global engineering, construction,
maintenance and diversified services company with an investment in
low-sulfur coal.
