W. Scott Lamb Elected Vice President of Investor Relations
May 23 2007 - 9:00AM
Business Wire
Foster Wheeler Ltd. (NASDAQ: FWLT) announced today that its board
of directors has elected W. Scott Lamb to the position of vice
president, investor relations, effective June 4, 2007. Mr. Lamb
will succeed Kevin Hagan, who will take up the position of vice
president and treasurer of Foster Wheeler Inc. to further
strengthen the Company�s treasury team. Mr. Lamb will report to
John T. La Duc, executive vice president and chief financial
officer. �This is a transformed company, delivering record-breaking
earnings and with a market capitalization approaching $7 billion.
We firmly believe that Scott is the right person to take our
investor relations function to another level,� said Raymond J.
Milchovich, chairman and chief executive officer. �Scott worked
very closely with John and me for a number of years at Kaiser
Aluminum Corporation in the position of vice president of investor
relations and corporate communications. He is a highly talented and
very experienced investor relations professional, who will be a
tremendous asset to the company as a member of its senior
management team.� Mr. Lamb, 52, was previously vice president of
investor relations for Coeur d�Alene Mines Corporation, a position
he held for approximately two years. Previously, he worked for
Kaiser Aluminum Corporation for approximately 14 years where he
served as Kaiser�s vice president of investor relations and
corporate communications. Prior to joining Kaiser, Mr. Lamb held
positions in financial, corporate, and marketing communications
with Boise Cascade Corporation and Datapoint Corporation. Mr. Lamb
is a member of the National Investor Relations Institute (NIRI) and
completed the NIRI Investor Relations program at the University of
Michigan. He holds a master�s degree from the University of Houston
and a bachelor�s degree from Weber State University. He is also a
member of the National Advisory Council at Weber State University.
A photo of Mr. Lamb is available at
http://www.fwc.com/eNewsroom/images/Scott_Lamb_07.jpg Notes to
Editors: 1. Foster Wheeler Ltd. is a global company offering,
through its subsidiaries, a broad range of engineering,
procurement, construction, manufacturing, project development and
management, research and plant operation services. Foster Wheeler
serves the refining, upstream oil and gas, LNG and gas-to-liquids,
petrochemicals, chemicals, power, pharmaceuticals, biotechnology
and healthcare industries. The corporation is based in Hamilton,
Bermuda, and its operational headquarters are in Clinton, New
Jersey, USA. For more information about Foster Wheeler, please
visit our Web site at http://www.fwc.com. 2. Safe Harbor Statement
This news release contains forward-looking statements that are
based on management�s assumptions, expectations and projections
about the Company and the various industries within which the
Company operates. These include statements regarding the Company�s
expectations regarding revenues (including as expressed by its
backlog), its liquidity, the outcome of litigation and legal
proceedings and recoveries from customers for claims, and the costs
of current and future asbestos claims, and the amount and timing of
related insurance recoveries. Such forward-looking statements by
their nature involve a degree of risk and uncertainty. The Company
cautions that a variety of factors, including but not limited to
the factors described in Part II, Item 1A �Risk Factors� of the
Company�s most recent quarterly report on Form 10-Q and the
following, could cause the Company�s business conditions and
results to differ materially from what is contained in
forward-looking statements: changes in the rate of economic growth
in the United States and other major international economies,
changes in investment by the oil and gas, oil refining,
chemical/petrochemical and power industries, changes in the
financial condition of its customers, changes in regulatory
environment, changes in project design or schedules, contract
cancellations, changes in estimates made by the Company of costs to
complete projects, changes in trade, monetary and fiscal policies
worldwide, currency fluctuations, war and/or terrorist attacks on
facilities either owned or where equipment or services are or may
be provided, interruptions to shipping lanes or other methods of
transport, outcomes of pending and future litigation, including
litigation regarding the Company�s liability for damages and
insurance coverage for asbestos exposure, protection and validity
of its patents and other intellectual property rights, increasing
competition by foreign and domestic companies, compliance with its
debt covenants, recoverability of claims against its customers and
others by the Company and clams by third parties against the
Company, changes in estimates used in its critical accounting
policies. Other factors and assumptions not identified above were
also involved in the formation of these forward-looking statements
and the failure of such other assumptions to be realized, as well
as other factors, may also cause actual results to differ
materially from those projected. Most of these factors are
difficult to predict accurately and are generally beyond the
Company�s control. You should consider the areas of risk described
above in connection with any forward-looking statements that may be
made by the Company. The Company undertakes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise. You are advised,
however, to consult any additional disclosures the Company makes in
proxy statements, quarterly reports on Form 10-Q, annual reports on
Form 10-K and current reports on Form 8-K filed with the Securities
and Exchange Commission.
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