Bob Pragada Assumes Role as Chief Executive Officer

Rhea-AI Summary

On January 24, 2023, Bob Pragada was appointed as the Chief Executive Officer of Jacobs (NYSE:J), succeeding the previous leadership. Pragada, a veteran with over 30 years of business leadership, has been with Jacobs for 17 years and held various senior roles, including President and COO. He aims to enhance Jacobs' focus on climate response, data solutions, and consulting services while aligning the company’s portfolio with high-growth sectors like water infrastructure and life sciences. Jacobs reported approximately $15 billion in annual revenue, and Pragada’s leadership is expected to drive profitable growth and innovation.

Positive

• Bob Pragada appointed as CEO, expected to enhance profitable growth.
• Strategic focus on high-growth sectors: water infrastructure, energy transition, and life sciences.
• Pragada's extensive experience within the company is a strong asset.

Negative

• None.

Pragada confirms focus on driving significant profitable growth and delivering on the company's strategy accelerators around climate response, data solutions and consulting and advisory

DALLAS, Jan. 24, 2023 /PRNewswire/ -- Following its leadership succession plan previously announced in September, Jacobs (NYSE:J) confirms Bob Pragada has been named Chief Executive Officer effective Jan. 24, 2023. He is expected to join the Company's Board of Directors upon certification of the results of its Annual Meeting today.

Pragada brings more than 30 years of global business leadership and military experience to Jacobs, including 17 years with the company and nine years as a Civil Engineer Corps and Seabees Officer with the U.S. Navy. Having served as a facilities director at Camp David during the Clinton administration, Pragada is the second Indian American to graduate from the United States Naval Academy and rose to the rank of Lieutenant Commander. Subsequently, he is the first Indian American, veteran and person of color appointed as CEO of Jacobs.

"It is an exciting time for Jacobs," said Pragada. "Concentrating our strategy accelerators around climate response, data solutions, and consulting and advisory services, we're anticipating the global trends most important to our clients to develop differentiated, data-enabled solutions that meet their needs. I am honored to take on the role of CEO and advance the compelling work underway to further diversify our capabilities and offerings, increasing opportunities and value for our people, our clients and our shareholders alike."

As CEO, Pragada remains focused on continuing Jacobs' efforts to align its portfolio to attractive, high-growth sectors – specifically in the areas of water infrastructure, environmental resiliency, energy transition, EV, life sciences and semiconductor manufacturing – leveraging the company's deep domain experience and unique capabilities to create a more connected, sustainable world.

Pragada joined Jacobs in 2006, holding several senior management positions over eight years, including Senior Vice President, Global Sales; Group Vice President, Northern Region (United States and the Republic of Ireland); and Vice President, Field Services. He returned to Jacobs in 2016 as President of the global Industrial and Buildings & Infrastructure lines of business and led the successful integration of CH2M, a $5 billion diversified technical services leader in infrastructure, water, environmental and nuclear sectors. He was also instrumental in Jacobs' strategic majority investment in PA Consulting, a multi-billion-dollar world-leading digital consulting firm, where he now serves as a Board member.

In 2019, Pragada was appointed President and COO of Jacobs, providing executive oversight of all global operations, driving impressive profitable growth across the Company's Critical Mission Solutions and People & Places Solutions lines of business. He has been instrumental in developing and leading the successful execution of Jacobs' strategy, as well as driving global integrated delivery of Jacobs' operations around the world as a differentiator in the industry.

Pragada is a graduate of Stanford University, where he earned a Master of Science in engineering and management. He serves as a trusted advisor to Eaton (Director), Brightstar Capital (Advisory Council Member), the Dallas Mavericks Foundation (Advisory Council Member), the U.S. Naval Academy Foundation (Director), and most recently Mr. Pragada was appointed as the 2022 Chair of the Dallas Regional Chamber.

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $15 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding the expected benefits from concentrating on certain identified accelerators and implementing our corporate strategy. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, the timing of the award of projects and funding under the Infrastructure Investment and Jobs Act, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession, geopolitical events and conflicts, and the impact of the COVID-19 pandemic, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

For press/media inquiries:
Kerrie Sparks
214.583.8433

 

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SOURCE Jacobs

FAQ

Who is the new CEO of Jacobs as of January 24, 2023?

Bob Pragada has been appointed as the new CEO of Jacobs effective January 24, 2023.

What are the strategic areas Jacobs is focusing on under Bob Pragada's leadership?

Jacobs is focusing on climate response, data solutions, and consulting services, along with high-growth sectors like water infrastructure and life sciences.

How long has Bob Pragada been with Jacobs?

Bob Pragada has been with Jacobs for 17 years.

What was Jacobs' annual revenue reported in the press release?

Jacobs reported approximately $15 billion in annual revenue.

What positions did Bob Pragada hold before becoming CEO?

Before becoming CEO, Bob Pragada served as President and COO and held several senior management positions.