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.”
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