CEO search for KBR as Utt retires

Contractor KBR has announced that William P “Bill” Utt will retire from his role as chairman, president and chief executive officer in 2014.

The board of directors has formed a search committee to identify his successor. In the meantime, Mr Utt will continue to lead KBR in his current positions until a new CEO is appointed.

Mr Utt served KBR for more than eight years and leaves to spend more time with his family.

Loren Carroll, KBR lead director, said, “We want to thank Bill for his commitment and many contributions to KBR. Under his leadership, KBR has built a strong foundation for growth and navigated many unique challenges of our industry.

"We believe we are well positioned for the future and look forward to identifying a new leader who will leverage the Company’s broad geographic footprint, extensive capabilities and strong customer relationships to drive results.”