In accordance with Foster Wheeler’s succession plan, J Kent Masters has assumed the role of CEO for Foster Wheeler AG.
As previously announced, Masters succeeds Umberto della Sala, who had been serving as Interim Chief Executive Officer and who continues to serve as the company's President and Chief Operating Officer and as CEO of the company's Global Engineering and Construction Group.
Masters will stand for election to the company's board of directors at an Extraordinary General Meeting of Foster Wheeler AG to be held on 1st November 2011.
Raymond J. Milchovich, Non-Executive Chairman of the Board of Foster Wheeler AG commented on the appointment, “As I have said previously, we have complete confidence in Kent to drive the company to reach its full potential, and we are very pleased to have Umberto in his continuing role as Chief Operating Officer to assist in this process.”
Masters had most recently served as a member of the Executive Board at the Linde Group. In relation to his new appointment he said, $quot;I expect to see the company grow into an even more vibrant organization as we continue to find ways to differentiate ourselves from our competitors while maintaining our commitment to meet or exceed client expectations regarding commercial and execution excellence, safety and quality.”
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