Bill Dudley has been named president & CEO of Bechtel.
He takes over from Riley Bechtel, who is stepping down from the company’s day-to-day operations for health reasons, but who will remain company chairman. Mr Bechtel has headed the company for 24 years. It was founded by his great-grandfather, Warren Bechtel, in 1898.
Privately-owned Bechtel is the largest contractor in the US. It was ranked no.7 in the most recent IC league table of the world’s 200 largest contractors, with revenues in 2012 of US$ 37.9 billion.
Mr Bechtel said, “For many years Bechtel has approached succession planning with diligence to ensure smooth transitions in leadership. Our plan includes provision for unplanned events, which we are now encountering. We are well prepared to act quickly in everybody’s best interest with no loss of momentum.