Foster Wheeler AG (FWLT) has hired Chris Covert from peer Fluor
Corp. (FLR) to head the engineering-and-construction company's U.S.
operations.
He succeeds Robert Flexon, who last month became Foster
Wheeler's CEO.
Covert spent 35 years at Fluor, serving the past four as senior
vice president and project director.
"Chris is a seasoned engineering and construction executive with
more than 30 years of experience in major upstream and downstream
process facilities," said Foster Wheeler President and Chief
Operating Officer Umberto della Sala.
Flexon was hired from NRG Energy Inc. (NRG) in November, after
serving as its chief financial officer, and his promotion to the
top job was announced a month later as Foster Wheeler announced it
would move its headquarters to Switzerland.
The company in May said its first-quarter profit fell 1.1% on a
revenue slump in its power business as market conditions improved
more slowly than expected.
Shares closed at $20.94 Thursday and didn't trade premarket. The
stock has fallen 29% this year.
-By Jodi Xu, Dow Jones Newswires; 212-416-3037;
jodi.xu@dowjones.com;