KBR reports CEO transition plan


KBR Inc. (NYSE: KBR) reports that William P. “Bill” Utt will retire from his role as chairman, president, and CEO in 2014. The board of directors has formed a search committee to identify his successor.

To ensure a smooth transition, Utt will continue to lead KBR in his current positions until a new CEO is appointed, and will support the board’s search process.

The board has retained Russell Reynolds Associates, an executive search firm, to assist in the process.

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