Sector News

AMEC announces new board directors to join after Foster Wheeler aquisition completes

October 6, 2014
News

AMEC, the international engineering and project management company, today announces that Kent Masters and Stephanie Newby have agreed to join its board as non-executive directors after completion of the offer for Foster Wheeler.

Kent Masters is currently President and Chief Executive Officer of Foster Wheeler. Prior to joining Foster Wheeler, he served as a member of the executive board of Linde AG and was also previously employed by BOC Group plc in a variety of senior executive positions, including Chief Executive, Industrial and Special Products. He has substantial experience in global industrial businesses and significant international and regional experience in the Americas, Africa and the South Pacific. He joined Foster Wheeler in 2011.

Kent is also a non-executive independent director of Rockwood Holdings, Inc., which is listed on the NYSE (ROC) and is based in Princeton NJ. He serves on its audit and compensation committees, and has been a director since 2007. Kent was also non-executive chairman of African Oxygen Limited (listed on the Johannesburg Stock Exchange) from 2005 to 2011.

Kent has entered into an agreement with AMEC governing the termination of his appointment as Chief Executive of Foster Wheeler, the terms of which are conditional on completion of the offer for Foster Wheeler. He will join the AMEC board immediately following the termination of his employment with Foster Wheeler, which is expected to be towards the end of the fourth quarter of 2014.

Stephanie Newby is the Chief Executive Officer of Crimson Hexagon, a leading provider of social media and data analytic services. She is also the founder of Golden Seeds, which has provided investment capital to early stage, high growth companies since 2004. Prior to that, she spent the majority of her career with J.P. Morgan working in the financial services industry. Stephanie also served as a non executive director of RiskMetrics Group, Inc. (formerly listed on the NYSE) until 2010.

Stephanie has been a member of the Foster Wheeler board since 2004.

Stephanie’s appointment to the AMEC board will be effective from completion of the offer for Foster Wheeler.

John Connolly, Chairman, said: “I look forward to Kent and Stephanie joining the AMEC board when the acquisition of Foster Wheeler completes. They both bring more than 30 years’ business experience to our board, including their extensive knowledge of Foster Wheeler’s operations and employees.”

Source: AMEC

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