Fluor Announces Executive Transition Plan

Fluor Corporation FLR announced today that Peter Oosterveer, Fluor's chief operating officer, will retire from the company effective March 31, 2017. In addition, the company announced that Biggs Porter, chief financial officer, has elected to retire by year-end.

Oosterveer leaves the company after 28 years of service in a variety of roles. Prior to being named chief operating officer, he led the company's Energy & Chemicals business. Oosterveer will return home to the Netherlands, where he will assume a role in another company outside of Fluor.

"Our leaders pay special attention to succession planning at all levels of the company, and it has been an ongoing part of our dialogue and planning since our transformation began in 2011," said David Seaton, chairman and chief executive officer. "I thank Peter for his service and dedication to Fluor and wish him well in the future."

Porter has led Fluor's finance, audit, investor relations, compliance and ethics, and mergers and acquisitions functions as chief financial officer since joining the company in May 2012. A search for his replacement is underway, and he will remain in his role until a successor is named.

"Biggs has been a tremendous asset to our company for the past five years," said Seaton. "His expertise and strategic leadership have been instrumental in strengthening our company's financial foundation. We thank him for his service and look forward to his continued leadership through year-end."

"It has been a privilege to serve as Fluor's chief financial officer alongside its exceptional management team and world-class employees," Porter said. "I am confident that this is the right time to begin the transition to a new CFO who will help drive the next phase of growth at Fluor. I look forward to working with David through the end of the year to achieve an orderly transition of responsibilities."

About Fluor Corporation

Fluor Corporation FLR is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served its clients by delivering innovative and integrated solutions across the globe. With headquarters in Irving, Texas, Fluor ranks 155 on the FORTUNE 500 list with revenue of $19 billion in 2016 and has more than 60,000 employees worldwide. For more information, please visit www.fluor.com or follow us on Twitter @FluorCorp.

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