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Foster Wheeler announces leadership changes

Staff writer |
Clinton, N.J., USA - December 17, 2009, Clinton, N.J., USA - Foster Wheeler AG, a global engineering and construction contractor, announces that its Board of Directors has approved a senior leadership succession plan, effective June 1, 2010.

Effective June 1, 2010, Robert C. Flexon will become Chief Executive Officer of Foster Wheeler AG. At the same time, Raymond J. Milchovich will relinquish the CEO role but will remain with the company and serve as Non-Executive Chairman of the Board and consultant to the company through October 2011. Umberto della Sala, President and Chief Operating Officer of Foster Wheeler AG, has agreed to extend his tenure with the company through 2013.

Robert C. Flexon, President and Chief Executive Officer of Foster Wheeler USA, joined the company on November 16, 2009. Prior to that, he had been Executive Vice President and Chief Financial Officer of NRG Energy, Inc. He had also served as a member of the Foster Wheeler AG board of directors from 2006 until November 16, 2009.

Mr. Flexon joined NRG in 2004 and, in addition to serving as Executive Vice President and CFO, he had also served as NRG's Executive Vice President and Chief Operating Officer from March 2008 to February 2009, overseeing NRG's plant and commercial operations, environmental compliance and risk management, as well as the Engineering, Procurement and Construction division.

Before joining NRG, he was Vice President, Corporate Development & Work Process and Vice President, Business Analysis and Controller of Hercules, Inc. Mr. Flexon also held various financial management positions with Atlantic Richfield Company from 1987 to June 2000, including General Auditor, Franchise Manager and Controller.

He began his career with the former Coopers & Lybrand public accounting firm. Flexon holds a Bachelor of Science degree in Accounting from Villanova University. He is a Certified Public Accountant.

Raymond J. Milchovich is Chief Executive Officer and Chairman of the Board of Directors of Foster Wheeler AG. He joined Foster Wheeler in October 2001 and subsequently directed the company's successful restructuring and turnaround. Before joining Foster Wheeler, he had been with Kaiser Aluminum Corporation for more than 20 years, progressing from operations management to President, Chief Executive Officer and Chairman.

Mr. Milchovich began his career in the steel industry, holding a variety of operating management positions for Wisconsin Steel Corporation and Wheeling-Pittsburgh Steel Corporation. He is a graduate of California University of Pennsylvania and the Harvard University Advanced Management Program.

Umberto della Sala joined Foster Wheeler in Milan in 1973 as a process engineer. From 1997 to 2000, he was assigned to FW USA as Vice President and General Manager of Latin American Operations and President of FW Caribe and later as commercial director. In 2000, he returned to Milan as Commercial Director of the newly formed Foster Wheeler Continental Europe Unit.


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