Jacobs Names Steven Demetriou President and Chief Executive Officer
July 13 2015 - 8:00AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that
Steven J. Demetriou has been named President and Chief Executive
Officer. Mr. Demetriou will also be elected to the Board.
Mr. Demetriou brings over 30 years of global business leadership
experience to Jacobs, including 14 years in the role of Chief
Executive Officer. Most recently he served as Chairman and CEO of
Aleris Corporation, a global downstream aluminum producer based in
Cleveland. Over the course of his career, he has gained broad
experience with companies in a range of industries including
Metals, Specialty Chemicals, Oil & Gas, Manufacturing and
Fertilizers. His career highlights include 16 years at ExxonMobil,
where he held roles of increasing responsibility in the U.S. and
Europe in operations, commercial, financial and general
management.
Mr. Demetriou will start in his new role with Jacobs on August
17. His appointment completes a rigorous selection process that
began in December 2014, following the retirement of former
President and CEO Craig Martin.
“Mr. Demetriou is known for his passionate, hands-on leadership
style, his strong customer relationships and his focus on
operational excellence. We are delighted to welcome a leader of
Steve’s caliber to build on the strong, global foundation we have
put in place and lead our company forward,” said Executive Chairman
Noel Watson. "Steve has a proven track record for driving growth
and creating shareholder value, as well as a clear appreciation of
our values and culture.”
Mr. Watson will return to his non-Executive Chairman role when
Mr. Demetriou joins the company.
Linda Fayne Levinson, Independent Director and Chair of Jacobs’
Human Resource and Compensation Committee, added, “Our selection
process included a wide array of candidates both internal and
external to Jacobs. The quality of the candidate slate and the
interest in this position is testament to the strength of our brand
and future potential. We chose Steve because he is a performance
driven leader who inspires a positive corporate culture, and he is
a global leader comfortable working with clients and employees
anywhere in the world. He is a great choice to lead Jacobs.”
As CEO, Mr. Demetriou will work with senior management and the
Board to develop strategies to further strengthen Jacobs’ position
as a global industry leader. Key to the role is the ability to
drive growth by engaging and inspiring Jacobs’ people, creating and
maintaining long-term, positive client relationships and focusing
on project execution excellence.
“It is an honor to be selected as the next Jacobs CEO,” said Mr.
Demetriou. “I am very excited about the opportunity to lead a
company with such an enviable global talent base and a strong
reputation as one of the world’s largest and most diverse providers
of technical professional and construction services. My immediate
objective is to listen and engage with Jacobs’ employees, customers
and shareholders, as well as develop and implement strategies to
realize Jacobs’ enormous potential to achieve focused growth into
the future.”
Mr. Demetriou currently serves on the board of Kraton
Performance Polymers (NYSE:KRA). Mr. Demetriou also served on the
board of Foster-Wheeler starting in 2008 and was non-Executive
Chairman of Foster-Wheeler from 2011-2014.
Jacobs is one of the world’s largest and most diverse providers
of technical professional and construction services.
Statements made in this release that are not based on historical
fact are forward-looking statements. We base these forward-looking
statements on management’s current estimates and expectations as
well as currently available competitive, financial and economic
data. Forward-looking statements, however, are inherently
uncertain. There are a variety of factors that could cause business
results to differ materially from our forward-looking
statements. For a description of some of the factors which may
occur that could cause actual results to differ from our
forward-looking statements please refer to our 2013 Form 10-K, and
in particular the discussions contained under Items 1 - Business,
1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's
Discussion and Analysis of Financial Condition and Results of
Operations. We do not undertake to update any forward-looking
statements made herein.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150713005429/en/
Jacobs Engineering Group Inc.Robin Shermer, 817-735-6284
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jul 2023 to Jul 2024