Fluor Names Its Third CEO in 2 Years

IRVING, Texas—Fluor Corporation announced that David E. Constable, a member of the Fluor board of directors, has been appointed chief executive officer (CEO), effective January 1, 2021. Constable succeeds Carlos Hernandez, who will retire as CEO and a member of the company’s Board at the end of the year.

Constable is a versatile executive with international experience and a proven track record of driving growth and value creation across multiple industries. He brings 30 years of insight to Fluor’s business, strategy and operations, having held various leadership roles within the company from 1982 to 2011, before returning as a board member in 2019. From 2011 to 2016, Constable served as CEO of Sasol Ltd, where he executed a comprehensive change program and implemented a new operating model focused on enhancing growth across the organization.

“We are pleased to appoint Constable, a proven executive with a deep understanding of our operations and opportunities, as Fluor’s next CEO,” said Alan Boeckmann, executive chairman of the board. “This leadership transition is the result of the board’s long-term succession planning process and follows a comprehensive external search. Constable brings a unique combination of deep insight to Fluor and an outside perspective from his prior experience as CEO of Sasol. His successful history of leading integrated global operations with a focus on effective risk management makes him ideally positioned to lead Fluor. I have had the opportunity to work closely with Constable over the last 25 years, both on the Fluor board and as a member of the management team, and can personally attest to his unparalleled understanding of our business and dedication to our company. Our board is confident Constable is the right person to shape and lead the company’s transformation strategy, which will enable us to achieve our full potential.”

“It has been an honor to serve as CEO of Fluor over the last year and a half, and a member of this great team for over a decade,” Hernandez said. “While it has been a challenging time for Fluor, we have made significant progress conducting our strategic review, strengthening our operations and completing the restatement of our financial results. Particularly, with the onset of COVID-19, I am proud of how our team adapted to the dynamic environment, remained focused on our objectives and continued delivering for our customers and shareholders. Given the strength of our team and the momentum underway, the Board and I are confident that now is the right time to welcome new leadership to Fluor, and that the company is well-positioned for the next phase of growth under David.”

“I am excited to rejoin such a great company and am honored to be leading Fluor during this important time in its history,” said Constable. “Since first joining Fluor in 1982 and returning again as a board member last year, I have seen firsthand the team’s hard work and commitment to improving the business and delivering for our customers. Given my role on the board, I am confident we will have a smooth transition. Fluor has a unique value proposition, strong industry position and the right talent to enable us to capitalize on the opportunities ahead and enhance value for all stakeholders.”

Constable has served as a director on the Fluor board since 2019, and is chair of the commercial strategies and operational risk committee, and a member of the executive and governance committees. He was the president and chief executive officer of Sasol Limited from 2011 to 2016, where he drove a comprehensive group-wide change program, which culminated in the roll-out of the organization’s new operating model and its related structures, systems and processes. Prior to joining Sasol, Constable held various roles with Fluor from 1982 to 2011, most recently as group president, Operations, where he was responsible for the multi-functional entity that served Fluor’s core business groups. He was also responsible for a number of businesses at Fluor.