Bill Dudley named Bechtel CEO

Bill Dudley has been named president & CEO of Bechtel. He takes over from Riley Bechtel, who is stepping down from the company’s day-to-day operations for health reasons, but who will remain company chairman. Mr Bechtel has headed the company for 24 years. It was founded by his great-grandfather, Warren Bechtel, in 1898.

Privately-owned Bechtel is the largest contractor in the US. It was ranked no.7 in the most recent iC league table of the world’s 200 largest contractors, with revenues in 2012 of US$ 37.9 billion.

Mr Bechtel said, “For many years Bechtel has approached succession planning with diligence to ensure smooth transitions in leadership. Our plan includes provision for unplanned events, which we are now encountering. We are well prepared to act quickly in everybody’s best interest with no loss of momentum.

"Bill has been our top candidate for CEO succession for some time, and he is well qualified in every respect to take over now. He will be an outstanding CEO for our company; he is highly regarded by our colleagues, customers, partners, and suppliers. I have tremendous confidence in Bill’s ability to continue to move the company forward.”

Mr Dudley is the first non-family member to serve as president and CEO since the company’s founding. He joined the company in 1981 and has held roles including managing key global projects, serving as president of the company’s Europe, Africa, Middle East, and Southwest Asia region, and serving as president of the Oil, Gas & Chemicals business unit. He was elected to the company’s board of directors in 2000 and named president and chief operating officer in 2008.

“Bechtel is a remarkable company, and I am honoured to be entrusted with this role,” said Mr Dudley.

In other appointments, Jack Futcher, currently president of the company’s largest business unit -Oil, Gas, & Chemicals - has been named an executive vice president. Brendan Bechtel, son of Riley Bechtel, succeeds Mr Futcher as president of the Oil, Gas, & Chemicals business. Alasdair Cathcart, a 25-year veteran of the company, will take over from Brendan Bechtel as general manager of the company’s LNG business.