Foster Wheeler appoints Linde exec as new CEO
26 Jul 2011
Reading, UK – Foster Wheeler AG has appointed Kent Masters from Linde Group as chief executive officer, as of 1 Oct – ending a nine-month headhunt to replace Robert Flexon, who quit after just five months in the job.
Umberto della Sala is to continue as interim CEO until then, and continue in his ongoing roles as president and chief operating officer, CEO of Foster Wheeler’s global engineering and construction group and member of the board of directors.
As part of a leadership succession plan, Ray Milchovich is to continue to serve as non-executive chairman of the board of directors of Foster Wheeler AG until 3 Nov, when he intends to leave the board. FW said it expects to announce its succession plan for chairman on or before November 3, 2011.
Masters has served as a member of the Linde executive board with responsibility for the operating segments Americas, the global business unit healthcare and the business area merchant & packaged gases.
He joined Linde in 2006 as a result of Linde’s acquisition of The BOC Group, where he had been Chief Executive, Industrial and Special Products and a member of the board of directors.
“Kent has significant operating, technical and contracting experience – and a demonstrable track record of successfully leading complex global organizations,” said Milchovich.
“Moreover, we believe that Kent’s leadership approach is a perfect fit with the cultural norms of Foster Wheeler. I know I speak for the entire board when I say that we have full confidence in Kent to drive the company to reach its full potential.”
Masters holds a BSc in chemical engineering from the Georgia Institute of Technology and an MBA from The Stern School of Business at New York University.
He also serves on the board of directors of Rockwood Holdings, a manufacturer of chemicals and advanced materials based in Princeton, New Jersey.
