Fluor Corporation (NYSE: FLR) announced that Peter Fluor, the company’s current lead independent director, will not stand for re-election at the 2020 annual meeting of stockholders. In connection with this announcement, Peter Fluor has also stepped down as the chairman of the organization and compensation committee.
“Peter Fluor’s 35-plus years of dedication and commitment with 107-year-old Fluor Corporation, and more broadly with the global engineering-construction and energy industries, is a legacy that is unmatched by many others,” said Alan Boeckmann, executive chairman, Fluor Corporation. “Peter understood well the family spirit of the founder, John Simon Fluor—that the company’s primary assets are its phenomenal people—and he lives and breathes that spirit every single day.”
“Now that Alan Boeckmann—who successfully led Fluor for more than a decade—is providing board oversight and is working together with Carlos Hernandez to successfully strengthen Fluor’s balance sheet and restore investor confidence, I believe the timing is right for me to retire,” said Peter Fluor. “I have the utmost trust and confidence that the new Fluor executive team and board of directors are on the right path to drive the company forward and create long-term value for Fluor shareholders.”
Peter Fluor is the current chairman and chief executive officer of Texas Crude Energy, LLC, an international oil and gas exploration and production company, and has served in that role since 2001. Previous to that, he was the president and chief executive officer of Texas Crude Energy from 1980 to 2012. Peter Fluor was also formerly a director for Anadarko Petroleum Corporation and Cameron International Corporation.
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