IRVING, TX — Fluor Corporation announces that David E. Constable, a member of the Fluor Board of Directors, has been appointed Chief Executive Officer (CEO). Constable succeeds Carlos Hernandez, who has retired as CEO and a member of the company’s board.

Constable is an executive with significant international experience and a track record of driving growth and value creation across multiple industries. He brings 30 years of insight to Fluor’s business, strategy, and operations, having held various leadership roles within the company from 1982 to 2011, before returning as a board member in 2019. From 2011 to 2016, Constable served as CEO of Sasol Ltd, where he executed a comprehensive change program and implemented a new operating model focused on enhancing growth across the organization.

“We are pleased to appoint David, a proven executive with a deep understanding of our operations and opportunities, as Fluor’s next CEO,” said Alan Boeckmann, Executive Chairman of the Board. “This leadership transition is the result of the board’s long-term succession planning process and follows a comprehensive external search. David brings a unique combination of deep insight to Fluor and an outside perspective from his prior experience as CEO of Sasol. His successful history of leading integrated global operations with a focus on effective risk management makes him ideally positioned to lead Fluor.”

Boeckmann continued, “On behalf of the board and the management team, I thank Carlos for his 13 years of leadership and many contributions to Fluor. As CEO, Carlos played an integral role setting Fluor on the path to restore confidence in our financial reporting. He oversaw our 2019 strategic review, which focused on lowering our risk profile and strengthening our balance sheet, and helped establish a culture of teamwork and transparency, laying the groundwork for Fluor’s future success. We are grateful to have had an executive of Carlos’s caliber step in to lead the company over this critical period. As a result, Fluor is on the right track, and we are well prepared to enter a new chapter.”

“It has been an honor to serve as CEO of Fluor over the last year and a half, and a member of this great team for over a decade,” Hernandez said. “While it has been a challenging time for Fluor, we have made significant progress conducting our strategic review, strengthening our operations, and completing the restatement of our financial results. Particularly, with the onset of the COVID-19 pandemic, I am proud of how our team adapted to the dynamic environment, remained focused on our objectives, and continued delivering for our customers and shareholders. Given the strength of our team and the momentum underway, the board and I are confident that now is the right time to welcome new leadership to Fluor.”

“I am excited to rejoin such a great company and am honored to be leading Fluor during this important time in its history,” Constable said. “Since first joining Fluor in 1982 and returning again as a board member last year, I have seen firsthand the team’s hard work and commitment to improving the business and delivering for our customers. Given my role on the board, I am confident we will have a smooth transition. Fluor has a unique value proposition, strong industry position, and the right talent to enable us to capitalize on the opportunities ahead and enhance value for all stakeholders.”