Fluor appoints new CEO, Jim Breuer, effective May 1

IRVING, Texas - Fluor Corporation (NYSE: NYSE:FLR), a global engineering and construction firm with a "GOOD" financial health rating according to InvestingPro, announced the appointment of Jim Breuer as the new Chief Executive Officer, effective May 1, 2025. The current CEO, David E. Constable, will assume the role of Executive Chairman on the same date. The company's stock has recently experienced volatility, declining about 9% in the past week.

Breuer, who has been with Fluor for 31 years, has served as the company's Chief Operating Officer since 2024, and has been instrumental in steering the company's strategic direction. His extensive experience includes a variety of executive and project roles across energy, chemicals, mining, metals, and power sectors on four continents. Half of his career has been spent on international assignments. Under current leadership, the company maintains a strong balance sheet with more cash than debt, and analysts expect net income growth this year.

Constable praised Breuer's contributions, particularly under the company's "building a better future" strategy, which has strengthened Fluor's balance sheet and restored confidence in its project delivery. As Fluor transitions from its "fix and build" phase to "grow and execute," Constable expressed full confidence in Breuer's ability to lead the company, emphasizing his deep understanding of Fluor's global operations, markets, and clients.

Breuer expressed gratitude for the opportunity to lead Fluor and aims to build on the growth platform established under Constable's leadership. He is committed to working closely with the Executive Chairman, the Board, and Fluor's global team to deliver value to clients and shareholders.

Fluor Corporation, with headquarters in Irving, Texas, and nearly 27,000 employees worldwide, specializes in professional and technical solutions for client projects. The company reported revenues of $16.3 billion in 2024, with an expected growth of 8% forecasted for the coming year. Listed on the Fortune 500, Fluor has demonstrated strong returns over the past five years despite recent market volatility. For over a century, Fluor has offered engineering, procurement, and construction services across various sectors. For detailed analysis and comprehensive valuation metrics, investors can access the full company research report on InvestingPro, which offers 13 additional key insights about the company's performance and prospects.

This leadership transition at Fluor is based on a press release statement issued by the company.

In other recent news, Fluor Corporation has made significant strides in its operations and leadership. The global engineering and construction firm recently announced the election of Charles P. Blankenship Jr. to its Board of Directors, a move set to enhance the company's strategic and operational capabilities. Blankenship, the current Chairman and CEO of Woodward (NASDAQ:WWD) Inc., brings an extensive background from his roles at Arconic and General Electric (NYSE:GE).

In addition to leadership changes, Fluor Corporation has secured a Front-End Engineering and Design (FEED) contract for a large-scale carbon capture and storage (CCS) system with Heidelberg (ETR:HDDG) Materials. The GeZero project, which is part of Heidelberg's decarbonization strategy, is set to capture approximately 700,000 tonnes of CO2 annually.

Furthermore, Fluor's financial leadership will see a transition as Chief Financial Officer Joe Brennan prepares to retire. John Regan, the current Chief Accounting Officer, will assume the CFO role starting March 1, 2025. This change is part of the company's long-term strategy to ensure leadership stability, and Citi maintains its Buy rating on Fluor shares, expressing confidence in the transition process. These developments underscore Fluor's ongoing commitment to leadership, expertise, and sustainability in its field.

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