KBR to restructure following strategic review
By Sarah McCay11 December 2014
KBR, Inc. has announced plans to become more streamlined following a Strategic Review.
Effective December 31, 2014, KBR will be reorganised into three new businesses that will focus on core strengths in consulting, technology, engineering and construction and government services.
The company has identified three strategic focus areas:
- Growth through differentiated consulting services and technology targeting oil and gas and chemicals to enhance the technical and financial returns to customers
- Enhanced returns through globalised project delivery and differentiated engineering, procurement, construction, commissioning and maintenance services
- Global government services focused on long-term contracts
KBR president and CEO Stuart Bradie said the new organisation is designed to simplify the structure, reduce overhead costs and create a more market-focused business.
“The restructure we are announcing today will create a new KBR focused on its core strengths structured along delivery lines that will enable us to meet the expectations of our customers and other stakeholders. This, combined with reduced complexity, will provide a more robust balance sheet and greater accountability and empowerment for our people. KBR will be well placed to meet the challenges of the future,” he said.