Company Website:
http://www.jacobs.com
PASADENA, Calif. -- (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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160728006708/en/
Contacts:
Jacobs Engineering Group Inc.
Mendi Head, 972-743-7699
Source: Jacobs Engineering Group Inc.
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