Steve Demetriou Appointed Chairman of the Jacobs Board; Linda Fayne Levinson Named Lead Director
July 28 2016 - 6:00PM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today Steven
J. Demetriou, Jacobs’ president and CEO, has been appointed to the
additional position of chairman of the board effective immediately.
Demetriou becomes the third chairman in the company’s 69 year
history. Noel G. Watson, presently the non-executive chair, will
retire from that position but remain on the board. Concurrently,
Jacobs announced its board of directors has elected Linda Fayne
Levinson to serve as lead director.
“The board concluded it is in the best interest of the company
and its shareholders to combine the roles of chairman and CEO,”
said Watson. “As chairman and CEO, Steve can more effectively deal
with our major global customers and their large projects,” Watson
added.
Watson joined Jacobs in 1965 and served as chief executive
officer of the company from November 1992 to April 2006. He also
served as the company’s president from 1987 to 2002. Levinson has
been a Jacobs director since 1996. As lead director, among several
responsibilities, she will serve as the board’s central point of
communication with the chairman and CEO and preside over executive
sessions of the independent directors.
“As CEO, Noel led Jacobs through a period of tremendous growth
and business success, strengthened critical client relationships
and established the diverse and global company we have today,” said
Levinson. “As chairman, Noel refreshed the board membership and
brought important industry expertise to the board,” added
Levinson.
“I’m honored to step into the lead director role. I am confident
the lead director structure, combined with our strong, independent
and fully-engaged board members, will ensure Jacobs’ tradition of
sound corporate governance. Along with my board colleagues, I look
forward to working with Steve to forge a new strategy and create
value for our shareholders.”
Jacobs is one of the world’s largest and most diverse providers
of full-spectrum technical, professional and construction services
for industrial, commercial and government organizations globally.
The company employs 60,000 people and operates in more than 30
countries around the world. For more information, visit
www.jacobs.com.
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 2015 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.
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