STOCK TITAN

NuScale Announces Alan Boeckmann as Non-Executive Chairman of Board of Directors

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management

NuScale Power (NYSE: SMR) has announced that board member Alan Boeckmann will become Non-Executive Chairman of the Board of Directors on January 15, 2025. Boeckmann, who has served on the board since December 3, 2020, will replace current chairman Jim Hackett.

Hackett, who has been named Lead Independent Director at Fluor , will depart NuScale's board to avoid being over-boarded at both companies. The transition is expected to maintain strong ties between NuScale and Fluor, its original sponsor and largest shareholder, given Boeckmann's previous experience as CEO and Chairman at Fluor

NuScale Power (NYSE: SMR) ha annunciato che il membro del consiglio Alan Boeckmann diventerà Presidente Non Esecutivo del Consiglio di Amministrazione il 15 gennaio 2025. Boeckmann, che è stato membro del consiglio dal 3 dicembre 2020, sostituirà l'attuale presidente Jim Hackett.

Hackett, che è stato nominato Direttore Indipendente Principale presso Fluor, lascerà il consiglio di NuScale per evitare di ricoprire troppi incarichi in entrambe le aziende. Si prevede che la transizione mantenga forti legami tra NuScale e Fluor, il suo sponsor originale e il maggiore azionista, data l'esperienza precedente di Boeckmann come CEO e Presidente di Fluor.

NuScale Power (NYSE: SMR) ha anunciado que el miembro de la junta Alan Boeckmann se convertirá en Presidente No Ejecutivo de la Junta Directiva el 15 de enero de 2025. Boeckmann, quien ha estado en la junta desde el 3 de diciembre de 2020, reemplazará al actual presidente Jim Hackett.

Hackett, quien ha sido nombrado Director Independiente Principal de Fluor, dejará la junta de NuScale para evitar tener demasiados cargos en ambas empresas. Se espera que la transición mantenga fuertes lazos entre NuScale y Fluor, su patrocinador original y mayor accionista, dada la experiencia previa de Boeckmann como CEO y Presidente de Fluor.

NuScale Power (NYSE: SMR)는 이사 Alan Boeckmann이 2025년 1월 15일부로 비상임 이사회의 의장이 될 것이라고 발표했습니다. Boeckmann은 2020년 12월 3일부터 이사로 재직해 왔으며, 현재 의장인 Jim Hackett를 대체합니다.

Hackett은 Fluor에서 수석 독립 이사로 임명된 후, 두 회사에서 모두 이사직을 맡지 않기 위해 NuScale의 이사회를 떠날 것입니다. 이 전환은 Boeckmann의 Fluor에서 CEO 및 의장으로서의 이전 경험을 감안할 때, NuScale과 그 원래 후원자이자 최대 주주인 Fluor 간의 강한 유대를 유지할 것으로 예상됩니다.

NuScale Power (NYSE: SMR) a annoncé que le membre du conseil Alan Boeckmann deviendra Président Non Exécutif du Conseil d'Administration le 15 janvier 2025. Boeckmann, qui siège au conseil depuis le 3 décembre 2020, remplacera l'actuel président Jim Hackett.

Hackett, qui a été nommé Administrateur Indépendant Principal chez Fluor, quittera le conseil de NuScale afin d'éviter d'être trop impliqué dans les deux entreprises. Cette transition devrait maintenir des liens solides entre NuScale et Fluor, son sponsor d'origine et son plus grand actionnaire, compte tenu de l'expérience précédente de Boeckmann en tant que PDG et Président de Fluor.

NuScale Power (NYSE: SMR) hat angekündigt, dass das Vorstandsmitglied Alan Boeckmann am 15. Januar 2025 Vorsitzender des nicht-exekutiven Vorstands wird. Boeckmann, der seit dem 3. Dezember 2020 im Vorstand ist, wird den derzeitigen Vorsitzenden Jim Hackett ersetzen.

Hackett, der zum leitenden unabhängigen Direktor bei Fluor ernannt wurde, wird den Vorstand von NuScale verlassen, um eine Überlastung in beiden Unternehmen zu vermeiden. Es wird erwartet, dass der Übergang eine starke Verbindung zwischen NuScale und Fluor, dessen ursprünglichem Sponsor und größtem Aktionär, aufrechterhält, da Boeckmann zuvor CEO und Vorsitzender von Fluor war.

Positive
  • Appointment of experienced leader with strong Fluor background
  • Maintains strategic alignment with largest shareholder Fluor
Negative
  • Loss of current chairman who led the company through its public listing in 2022

CORVALLIS, Ore.--(BUSINESS WIRE)-- NuScale Power Corporation (NYSE: SMR), the industry-leading provider of proprietary and innovative advanced small modular reactor nuclear technology, announces that Mr. Alan Boeckmann, a board member since December 3, 2020, will be named Non-Executive Chairman of NuScale Power’s Board of Directors on January 15, 2025. He will replace Mr. Jim Hackett, who has been named Lead Independent Director at Fluor Corporation. With confidence in the quality of NuScale’s management, board (including Alan Boeckmann), and business model, in addition to avoid being deemed over-boarded at NuScale and Fluor, Hackett will depart the NuScale board. Mr. Boeckmann’s prior service as CEO and Chairman at Fluor Corporation coupled with Mr. Hackett’s service as Non-Executive Chairman of NuScale Power since it went public in 2022, provides confidence that the connection between NuScale and Fluor (NuScale’s original sponsor and largest shareholder) will remain strong.

About NuScale Power

Founded in 2007, NuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The company’s groundbreaking SMR technology is powered by the NuScale Power Module™, a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output.

As the first and only SMR to have its design certified by the U.S. Nuclear Regulatory Commission, NuScale is well-positioned to serve diverse customers across the world by supplying nuclear energy for electrical generation, data centers, district heating, desalination, commercial-scale hydrogen production, and other process heat applications.

To learn more, visit NuScale Power’s website or follow us on LinkedIn, Facebook, Instagram, X and YouTube.

Forward Looking Statements

This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. NuScale specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing NuScale’s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Investor contact

Scott Kozak, Director, Investor Relations

skozak@nuscalepower.com



Media contact

Chuck Goodnight, Vice President, Business Development

media@nuscalepower.com

Source: NuScale Power

FAQ

When will Alan Boeckmann become NuScale Power's (SMR) Chairman?

Alan Boeckmann will become Non-Executive Chairman of NuScale Power's Board of Directors on January 15, 2025.

Why is Jim Hackett leaving NuScale Power's (SMR) board?

Jim Hackett is leaving to avoid being over-boarded, as he has been named Lead Independent Director at Fluor

How long has Alan Boeckmann served on NuScale Power's (SMR) board?

Alan Boeckmann has served on NuScale Power's board since December 3, 2020.

What is the relationship between NuScale Power (SMR) and Fluor ?

Fluor is NuScale Power's original sponsor and largest shareholder.

NuScale Power Corporation

NYSE:SMR

SMR Rankings

SMR Latest News

SMR Stock Data

2.39B
90.47M
10.52%
50.58%
17.71%
Specialty Industrial Machinery
Fabricated Plate Work (boiler Shops)
Link
United States of America
CORVALLIS