Fluor Corporation's (NYSE: FLR) Board of Directors today announced the
appointment of Fluor and industry veteran Alan L. Boeckmann to the
position of chairman and chief executive officer (CEO), effective
February 6, 2002. Boeckmann, 53, succeeds current Fluor Chairman and CEO
Philip J. Carroll Jr.
In making the announcement, Carroll said, "I have worked closely with
Alan during my years at Fluor, and I am pleased that the board has
approved my recommendation to appoint him to this important position.
Given the company's strategic focus on its core capabilities in
engineering, procurement, construction and maintenance (EPC&M), the
board concluded that Alan's extensive industry experience, thorough
knowledge of Fluor's operations and demonstrated leadership capabilities
suit him well for directing the company.
"I have been impressed with his ability to work with the senior
leadership team in forging a focused strategic vision for the company
and building close relationships with our clients. I believe our company
is ready for this succession of leadership," Carroll added.
"I am grateful for the significant opportunities I've been given during
my 27 years with Fluor, and I am honored to have been selected to
represent the considerable talent that Fluor employees represent," said
Boeckmann. "Our industry is entering a renewed growth phase, and Fluor
is prepared to capitalize on the long-term up-cycle we see developing in
many of the major markets we serve. We are committed to delivering the
kind of performance that will make Fluor the undeniable leader within
the global building and services marketplace and a superior investment
for shareholders."
Commenting on Carroll's tenure, Boeckmann said, "The board and company
are grateful to Phil for his significant contributions. He has
accomplished what he came here to do. He was instrumental in redirecting
the company's strategy and increasing its focus on clients. He led the
separation of Massey Coal from Fluor, creating significant value for
shareholders of both companies. Fluor's improved financial performance
is a result of Phil's emphasis on fiscal discipline and focus on serving
select clients for whom Fluor can deliver value. His work on succession
planning and developing the next generation of management enabled this
change now, and we are confident that Fluor will prosper as a result of
the fundamental improvements he has implemented."
During his tenure with Fluor, Boeckmann has held management positions of
increasing responsibility, including assignments in California, Texas,
South Carolina, South Africa and Venezuela. Since February 2001, he has
been serving as president and chief operating officer of Fluor
Corporation. Previously, Boeckmann served as president and CEO of Fluor
Daniel, the engineering and construction unit of Fluor. He previously
served as president of Fluor Daniel's Energy & Chemicals Group; Fluor
Daniel's Chemicals, Plastics & Fibers Operating Company; and the
Chemical Processes & Industrial Business Group. Prior to that, he served
as vice president of the company's business unit that formed its DuPont
alliance and as the functional leader of Engineering.
Carroll, 64, has served as chairman and CEO of Fluor Corporation since
1998. Prior to joining Fluor, Carroll served 37 years with Shell Oil
Company, retiring as its president and CEO.
In another change, Vice Chairman Jim Stein, 58, is retiring from Fluor
and its Board of Directors, effective January 2, 2002. Stein began his
nearly 40-year career at Fluor as a management trainee in 1964. Since
that time, he has held a variety of positions, including president and
CEO of Fluor Global Services; president and chief operating officer of
Fluor Daniel, and group president of Diversified Services.
Fluor Corporation provides services on a global basis in the fields of
engineering, procurement, construction, operations, maintenance and
project management. Headquartered in Aliso Viejo, California, Fluor is a
Fortune 500 company with revenues of $10 billion in fiscal year 2000.
Fluor is a publicly held corporation that trades under the symbol FLR on
the New York Stock Exchange. Complete information about Fluor is
available through the company's Internet site at www.fluor.com
.
Note:
This release contains forward-looking statements, including statements
relating to the expected performance of the Company's business. The
forward-looking statements are based on current management expectations.
Actual results may differ materially as a result of several factors,
including, among other things, projected earning levels, the timely and
successful implementation of strategic initiatives, difficulties or
delays incurred in the execution of contracts and changes in global
business, economic, political and social conditions. Caution must be
exercised in relying on these and other forward-looking statements. Due
to known and unknown risks, the Company's results may differ materially
from its expectations and projections.
Additional information concerning these and other factors can be found
in press releases as well as the Company's public periodic filings with
the Securities and Exchange Commission, including the discussion under
the heading "Item 5. Business -- Other Matters" in the Company's Form
8-K filed on September 25, 2001. Such filings are available either
publicly or upon request from Fluor's Investor Relations Department:
(949) 349-3909. The Company disclaims any intent or obligation to update
its forward-looking statements.
EXECUTIVE PROFILE
Alan L. Boeckmann
Chairman and Chief Executive Officer
Fluor
Corporation
Alan L. Boeckmann is chairman and chief executive officer of Fluor
Corporation, effective February 6, 2002.
Prior to his current position, Boeckmann served as president and chief
operating officer. He also has served as president and chief executive
officer of Fluor Daniel, the engineering and construction unit of Fluor
Corporation and president of Fluor Daniel's Energy & Chemicals Group,
Fluor Daniel's Chemicals, Plastics & Fibers Operating Company, and the
Chemical Processes & Industrial Business Group. Prior to that, he served
as vice president of the company's business unit that formed its DuPont
alliance and as the functional leader of Engineering.
Since joining Fluor in 1974 as an engineer, Boeckmann has held various
management positions, including assignments in California, Texas, South
Carolina, South Africa and Venezuela.
Active in a variety of business and professional organizations,
Boeckmann, in addition to serving on Fluor's board, serves as a director
of Burlington Northern Santa Fe, the American Petroleum Institute and
the Business Council for International Understanding.
Boeckmann was graduated from the University of Arizona with a degree in
electrical engineering.
Fluor Corporation provides services on a global basis in the fields of
engineering, procurement, construction, operations, maintenance and
project management. Headquartered in Aliso Viejo, California, Fluor is a
Fortune 500 company with revenues of $10 billion in fiscal year 2000.
Fluor is a publicly held corporation that trades under the symbol FLR on
the New York Stock Exchange. Complete information about Fluor is
available through the company's Internet site at www.fluor.com
.
MEDIA FACT SHEET
Fluor Corporation
Headquarters:
One Enterprise Drive
Aliso Viejo, CA 92656-2606
Senior Executives:
Alan L. Boeckmann (effective February 6, 2002)
Chairman and Chief
Executive Officer
D. Michael Steuert
Senior Vice President and Chief Financial Officer
Internet URL: www.fluor.com
Trading Symbol: FLR
Stock Market: New York Stock Exchange
Corporate Description: Fluor Corporation provides services on a global
basis in he fields of engineering, procurement, construction,
operations, maintenance and project management.
Total Employees: 55,000
Fiscal Year Revenues: $10 billion for 2000
Shares Outstanding: 80,000,000
CORPORATE HISTORY
Index of Past Leaders:
J. Simon Fluor 1912-1944
Peter E. Fluor 1944-1947
Donald W. Darnell 1949-1952
J. Simon Fluor, Jr. 1952-1962
J. Robert Fluor 1962-1984
David S. Tappan, Jr. 1984-1990
Les G. McGraw 1991-1997
Peter J. Fluor 1997-1998
Philip J. Carroll, Jr. 1998-2002
Fluor CorporationMedia RelationsKeith Karpe, +1-949-349-7661Lori Serrato, +1-949-349-7420