Fluor names new CEO

CEO of Fluor Corporation Alan Boeckmann has announced that he will retire in early 2011 after over 30 years at the company.

Current COO David Seaton will take on his role at the head of the company and become a member of the board of directors in a shake-up effective 3 February.

"As the company formalises key growth strategies for the next decade, it is the appropriate time to transition to the next generation of leadership", Mr Boeckmann said.

Industry veteran Mr Boeckmann - who has been CEO since 2002 - saw revenues at the company more than double during his tenure at the top after overseeing Fluor's entrance to new markets such as renewable energy and carbon. He will remain on the board as non-executive chairman.

"In looking to the future, we are genuinely excited about the global prospects for Fluor and see considerable upside opportunity not only in our traditional markets but most certainly in such geographies as the Asia-Pacific, Latin America, the Middle East and former Soviet Union", he added.

Mr Seaton joined Fluor in 1984 and held various management positions before being appointed COO in November last year. Looking ahead, he said the opportunities for the company, which reported revenues of US$ 22 billion in 2009, are "unlimited".

"I am fully committed to doing everything possible to build on the record of robust growth that has been the hallmark of Fluor over the past ten years", Mr Seaton concluded.