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Fluor Corporation Board of Directors Confirms Appointment of Carlos Hernandez as Chief Executive Officer

Appoints John Reynolds as Chief Legal Officer

IRVING, Texas–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/CEO?src=hash" target="_blank"gt;#CEOlt;/agt;–Fluor Corporation (NYSE: FLR) announced today that its board of
directors has confirmed the appointment of Carlos M. Hernandez as chief
executive officer (CEO) and named him a member of the board of the
company. Hernandez was named as Fluor’s interim chief executive officer
on May 1, 2019, in line with the company’s established succession plan
following David T. Seaton stepping down. The board of directors also
named John R. Reynolds as the new chief legal officer of Fluor.


“Fluor’s board of directors is pleased to confirm Carlos’ appointment as
our CEO,” said Alan Boeckmann, Fluor’s executive chairman. “We have
great confidence in Carlos and trust that he will provide the strong
leadership necessary to support the next phase of Fluor’s growth and
future success,” Boeckmann said. “Carlos’ engineering and legal
background, combined with his 12 years successfully serving in executive
leadership roles at Fluor, makes him uniquely qualified to lead the
company and our team of talented global professionals. I look forward to
working closely alongside and supporting Carlos as Fluor’s executive
chairman.”

“I am honored and excited for this unique opportunity to lead Fluor, a
company with more than 100 years of global leadership in our sector, a
reputation for excellence and the best talent in the industry,” said
Hernandez, Fluor’s CEO.

“While I recognize our challenges, first and foremost, I believe the
underlying business fundamentals are strong. Currently, most of our
projects are profitable, and my immediate priority will be to ensure we
have appropriately applied our project governance review methodology and
fully identify the underlying issues on the few projects that have
contributed to recent underperformance,” Hernandez said. “Alongside this
priority, I will work closely with the Fluor senior management team as
we conduct a comprehensive strategic review of the company’s business
and operations, a process which is now underway. I look forward to
reporting back and providing an update on our strategic review when we
report second quarter results,” Hernandez said.

“I am pleased to announce John Reynolds as Fluor’s new chief legal
officer,” said Hernandez. “John’s 30-plus years with Fluor and extensive
experience across all of our markets will serve the company well.”

Fluor expects to share the results of its strategic review in
conjunction with the announcement of its second quarter 2019 financial
results scheduled for August 1, 2019.

As Fluor’s executive chairman, Alan Boeckmann will provide leadership
for Fluor’s board of directors. In addition, building on his
long-standing history within the company, Boeckmann will serve as a
strategic partner and advisor to Hernandez, with availability to provide
counsel around issues of strategic importance including client and
investor relationships and long-term succession planning.

About Fluor Corporation

Founded in 1912, Fluor
Corporation
(NYSE: FLR) is a global engineering, procurement,
fabrication, construction and maintenance company that transforms the
world by building prosperity and empowering progress. Fluor serves its
clients by designing, building and maintaining safe, well executed,
capital-efficient projects around the world. With headquarters in
Irving, Texas, Fluor ranks 164 on the Fortune 500 list with revenue of
$19.2 billion in 2018 and has more than 53,000 employees worldwide. For
more information, please visit www.fluor.com
or follow Fluor on Facebook,
Twitter,
LinkedIn
and YouTube.

Contacts

Brian Mershon
Media Relations
469.398.7621

Jason Landkamer
Investor Relations
469.398.7222

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