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Foster Wheeler Appoints Ferraioli Controller
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01/16/2005
HAMILTON, Bermuda, Nov 4, 2002 -- Foster Wheeler Ltd. (NYSE: FWC) today announced the appointment of Brian K. Ferraioli as vice president and controller of the company worldwide. He will report to Joseph T. Doyle, senior vice president and chief financial officer, and will continue to be based at the company's Clinton, New Jersey office.
Ferraioli, 47, has been with Foster Wheeler for 23 years. Prior to this appointment, he was vice president and chief financial officer of Foster Wheeler USA and Foster Wheeler Power Systems, respectively, and vice president of project finance at Foster Wheeler International, Reading, UK. In addition to serving in various corporate finance roles, Ferraioli was also CFO of Foster Wheeler Iberia, Madrid, as well as assistant controller of Foster Wheeler Italiana, Milan.
"We believe Brian is particularly well-suited to assume this new assignment," said Doyle. "We look forward to benefiting from his global experience, as well as from his knowledge of the company, its finances, and financial reporting systems in general."
Ferraioli is a Certified Public Accountant, and holds an M.B.A. from Columbia University, as well as a bachelor's degree in accounting from Seton Hall University.
Ferraioli succeeds Thomas J. Mazza, who has been appointed to another leadership position within the company's financial organization.
Notes to Editors:
1. Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of design, engineering, construction, manufacturing, project development and management, research, plant operation and environmental services. The corporation is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, N.J. For more information about Foster Wheeler, visit our World Wide Web site at www.fwc.com.
2. Safe Harbor Statement
This news release contains forward-looking statements that are based on management's assumptions, expectations and projections about the various industries within which the corporation operates. Such forward-looking statements, by their nature, involve a degree of risk and uncertainty. The corporation cautions that a variety of factors, including but not limited to the following, could cause business conditions and results to differ materially from what is contained in forward-looking statements: changes in the rate of economic growth in the United States and other major international economies, changes in investment by the energy, power and environmental industries, changes in regulatory environment, changes in project schedules, changes in trade, monetary and fiscal policies worldwide, currency fluctuations, outcomes of pending and future litigation, protection and validity of patents and other intellectual property rights, and increasing competition by foreign and domestic companies.
