Business

Fluor Corp. CEO Steps Down Amid Poor Quarterly Earnings

David Seaton is vacating the C-suite after a brutal Q1 earnings report shows the company lost $58 million.

Irving-based engineering construction company Fluor Corp.’s CEO has just stepped down in the face of poor quarterly earnings.

After 34-years with the company, David Seaton vacated his role as CEO and will no longer serve on the board. Seaton will remain with Fluor through the transition, but as of May 1, is no longer a board member.

Alan Boeckmann, who served as CEO from 2002 to 2011 has come of retirement and will be the executive chairman of the global engineering construction firm. Chief Legal Officer and Secretary Carlos Hernandez becomes interim CEO as the company searches for a permanent replacement.

“The board has great confidence in Carlos,” Boeckmann said in a statement. “We trust that he will provide the needed direction for the company and build upon Fluor’s leadership position in the marketplace.”

Fluor’s Q1 earnings report revealed a disappointing performance, with the company posting a $58 million loss between January and March. Its share price has dropped more than 20 percent, as of press time.

Newsletter

Our D CEO Weekly newsletter helps you stay up to speed with breaking news, interviews with industry leaders, and market insights from the editors of D CEO.

More from D CEO

D CEO Healthcare

D CEO Healthcare

D CEO Real Estate

D CEO Real Estate

Events

Events

Dallas 500

Dallas 500

Comments