Fluor Chief Financial Officer Joe Brennan to Retire; Company Names John Regan as New CFO

Rhea-AI Summary

Fluor (NYSE: FLR) has announced that Executive Vice President and CFO Joe Brennan will retire effective July 1, 2025, after more than 30 years of service. John Regan, currently Executive Vice President and Chief Accounting Officer, will succeed him effective March 1, 2025. Regan brings over three decades of financial expertise and previously served as CFO at Alta Mesa and Vine Oil & Gas LP. He is a Texas-licensed CPA who started his career at PricewaterhouseCoopers. The company reported revenue of $15.5 billion in 2023 and ranks 265 on the Fortune 500.

Positive

• Planned smooth transition period between March and July 2025 ensures operational continuity
• New CFO brings extensive financial and industry experience with public company management
• Company achieved substantial revenue of $15.5 billion in 2023

Negative

• None.

Insights

Financial Analyst

The planned CFO transition at Fluor appears well-orchestrated, with a 4-month overlap period allowing for smooth knowledge transfer. John Regan's background as CAO and previous CFO experience at energy companies suggests continuity in financial strategy. The lengthy advance notice and internal promotion indicate careful succession planning, which should minimize disruption to ongoing initiatives.

Fluor's recent performance, with $15.5 billion in 2023 revenue, provides a stable foundation for this transition. Regan's CPA credentials and Big Four background are particularly relevant for maintaining strong financial controls in the complex EPC sector. The timing aligns with the company's fiscal year, allowing for clean quarterly reporting transitions.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that after more than three decades of service, Executive Vice President and Chief Financial Officer (CFO), Joe Brennan, will retire effective July 1, 2025. Fluor’s Board of Directors has appointed John Regan as his successor, effective March 1, 2025.

John Regan (Photo: Business Wire)

Regan currently serves as Fluor’s Executive Vice President and Chief Accounting Officer. He brings more than three decades of financial and industry expertise, as well as extensive experience managing public company financial planning, reporting and operations. Prior to joining Fluor, Regan served as CFO of Alta Mesa and CFO of Vine Oil & Gas LP. Regan is a Certified Public Accountant, licensed in Texas, and began his career at PricewaterhouseCoopers.

“Joe has been instrumental in strengthening Fluor's financial stability and positioning the company for long-term success,” said David E. Constable, Chairman and Chief Executive Officer of Fluor. “Going forward, the Board and I are confident that our shareholders will benefit from John’s wealth of financial and operational management experience. I look forward to working closely with John as we continue to drive our capital allocation plans and pursue demand-driven growth opportunities across our portfolio.”

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 34,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.5 billion in 2023 and is ranked 265 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20241202124464/en/

Brett Turner

Media Relations

864.281.6976

Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

When will Fluor (FLR) CFO Joe Brennan retire?

Fluor CFO Joe Brennan will retire effective July 1, 2025, after more than three decades of service with the company.

Who is the new CFO of Fluor (FLR)?

John Regan, currently Fluor's Executive Vice President and Chief Accounting Officer, will become the new CFO effective March 1, 2025.

What was Fluor's (FLR) revenue in 2023?

Fluor reported revenue of $15.5 billion in 2023.

What is John Regan's background before joining Fluor (FLR)?

John Regan previously served as CFO of Alta Mesa and CFO of Vine Oil & Gas LP. He is a Texas-licensed CPA who began his career at PricewaterhouseCoopers.