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Fluor Corporation Appoints Peter J. Fluor as Lead Independent Director
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01/16/2005
Fluor Corporation's (NYSE:FLR) board of directors today announced that Peter J. Fluor has been elected as its lead independent director. All of the company's directors, excluding Chairman and Chief Executive Officer Alan Boeckmann, are independent.
In this newly created role, Mr. Fluor's responsibilities include presiding over all executive sessions of the board's independent directors and consulting with Boeckmann regarding quarterly board meeting agendas, schedules and information flow. He also will provide guidance on director orientation for new board members. His initial term is three years.
"This new position will help improve free and open communication both among our independent directors and between the independent directors and our management team. We want to do everything we can to utilize the breadth of talent and experience our board members possess and to foster their active participation in the affairs of the company," Boeckmann said. "Peter is an excellent choice for this position. His many years of experience as a global business leader provide him an understanding of issues that could impact Fluor. That experience -- combined with his knowledge of Fluor's operations, his long-standing relations with our board's directors, and his skills as a counselor and advisor -- well equip him for this role."
Mr. Fluor joined Fluor's board of directors in 1984 and currently chairs its audit committee. He also is a member of its executive, governance, and organization and compensation committees, and served as the company's non-executive chairman during fiscal 1998.
Mr. Fluor is chairman and chief executive officer of Texas Crude Energy, Inc., a private, independent oil and gas exploration company based in Houston, Texas, with operations in the United States, Canada, China and Australia.
Active in a variety of professional and civic organizations, Mr. Fluor serves on the boards of J.P. Morgan Chase Houston and Ocean Energy, Inc. He also is a member of the All-American Wildcatters, the American Petroleum Institute and the Council of Overseers of the Jesse H. Jones Graduate School of Administration at Rice University.
Mr. Fluor earned a bachelor's degree in finance and a master's degree in business administration from the University of Southern California.
Fluor Corporation (NYSE:FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Aliso Viejo, Calif., Fluor is a Fortune 500 company with revenues of $10 billion in fiscal year 2002. For more information, visit www.fluor.com .
