An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
BWXT Announces McCoy, MacQuarrie to Lead Newly Organized Reporting Segments
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
BWX Technologies (NYSE: BWXT) has restructured its reporting segments to enhance operational efficiency and growth. Effective Q1 2022, the company will report under two segments: Government Operations and Commercial Operations. Kevin McCoy has been appointed president of Government Operations, focusing on naval reactor manufacturing and environmental management, while John MacQuarrie leads Commercial Operations, overseeing the nuclear power generation and medical isotope sectors. This strategic shift aims to drive a multi-faceted growth strategy across diverse customer bases.
Positive
Restructured reporting segments to enhance operational efficiency.
Appointment of experienced leaders for both segments.
Focus on strategic growth in government and commercial sectors.
Negative
None.
LYNCHBURG, Va.--(BUSINESS WIRE)--
BWX Technologies, Inc. (NYSE: BWXT) announced today that it has streamlined its reporting segment structure to better reflect its operations and position the company for improved efficiency and strategic growth. Starting with the first quarter of 2022, BWXT will report as two operating segments called Government Operations and Commercial Operations. The company has named Kevin M. McCoy president of the Government Operations segment, and John R. MacQuarrie president of the Commercial Operations segment.
McCoy is an experienced leader in shipyard and nuclear industrial operations. He retired with the rank of Vice Admiral from the U.S. Navy after a 36-year career. He commanded the Naval Sea Systems (NAVSEA), the U.S. Navy’s largest of five systems commands, with 60,000 military and civilian personnel and responsibility for 25% of the Navy’s budget. He also served as chief engineer of the U.S. Navy, served as Commander of the Portsmouth Naval Shipyard, and held a variety of roles for the Naval Nuclear Propulsion Program, among other assignments. Prior to joining BWXT, from 2013 to 2021 McCoy was president of Irving Shipbuilding Inc., Canada’s largest shipbuilding company.
Government Operations contains the company’s prior Nuclear Operations Group and Nuclear Services Group, and includes BWXT’s work as the sole manufacturer of naval nuclear reactors for U.S. submarines and aircraft carriers. The segment also includes BWXT’s joint ventures that carry out environmental remediation and nuclear operations management at more than a dozen U.S. government facilities. It also develops mobile and microreactor technology for terrestrial and space applications.
John MacQuarrie is an industry veteran with more than 28 years of experience in the nuclear industry, including more than 23 years with BWXT. MacQuarrie has served as president of BWXT Canada Ltd. since 2013. Previously, MacQuarrie served as vice president, business development & marketing for the company’s commercial nuclear energy operating group. Prior to that he was the vice president of nuclear services for BWXT Canada, where he was responsible for global services delivery. He assumed this role after several years as the general manager of nuclear services and equipment for the company’s Canadian operations. MacQuarrie is also the chair of the board of directors for the Canadian Nuclear Association.
The Commercial Operations segment (formerly the Nuclear Power Group) includes the design, manufacturing, commissioning and service of nuclear power generation equipment. This includes steam generators, nuclear fuel and fuel components, critical plant components, parts and related plant services. The segment also develops, manufactures, packages and delivers medical isotopes and radiopharmaceuticals.
“We are extremely fortunate to have two highly experienced and respected industry leaders in these key roles,” said BWXT President and Chief Executive Officer Rex Geveden. “This new reporting structure enables BWXT to drive its multi-faceted growth strategy through two distinct, customer-based segments. We look forward to building on our successes with a sharper focus on using nuclear technology to solve some of our customers’ most challenging problems in both the public and private sectors.”
About BWXT
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,600 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXT and learn more at www.bwxt.com.
