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Thursday, December 19, 2013

KBR’s CEO to retire

KBR's Chief Executive Officer made a surprise retirement announcement as the corporation is facing growing charges of alleged poor management of its roll as a military contractor in Afghanistan and Iraq. Today's post is shared from  .

William Utt, chairman, president, CEO of KBR, says he'll retire in 2014. (AP Photo/J. David Ake)
KBR CEO William Utt will retire next year, the company announced Monday.
KBR’s board of directors has formed a search committee to find a successor. Utt, 56, oversaw a period at KBR that involved its separation from Halliburtin and a winding down of the company’s extensive work as a government contractor in Iraq, where it provided services ranging from cooking to building housing.
Utt will continue to lead the engineering and construction company until the board finds a successor.
“It has been a privilege to lead the finest employees in the industry, whose commitment, integrity and ingenuity never cease to impress me,” Utt said in a statement. “I believe that we have built a strong platform for long-term growth, and I am confident in the company’s future. After more than eight years at KBR, I am now looking forward to the next chapter of my life with more time for family and the opportunity to pursue other avenues for my personal and professional growth.”
The decision was a surprise at the company, although Utt was praised by KBR leadership.
“We want to thank Bill for...
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