KBR Inc. on Wednesday said it appointed Stuart Bradie as its new
chief executive starting in June, when the longtime industry
veteran will succeed William P. Utt, who is retiring.
Mr. Bradie, who also will join the engineering, construction and
defense services company's board, comes to KBR from Australian
engineering contractor WorleyParsons Ltd., where he most recently
was group managing director for operations and delivery.
Mr. Utt, who has been CEO since March 2006 and chairman since
2007, announced his plans to retire from Houston-based KBR late
last year.
In February, KBR posted declining revenue for its 18th straight
quarter, while its profit fell 10%, dragged down by various
charges. The company's sales have flagged in recent months as
defense contractors have faced reduced government spending.
Write to Tess Stynes at tess.stynes@wsj.com
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