B&W names new president and CEO

The Babcock & Wilcox Co. (NYSE: BWC) on April 4 said James (Jim) Ferland has been appointed president and chief executive officer, effective April 19, 2012. Ferland will succeed Brandon C. Bethards who will step down as president and CEO of B&W, also on April 19, 2012.

Bethards will retire from the company effective at the company's annual meeting of stockholders, which is scheduled to be held on May 8, 2012, at which time he will also resign from the Board of Directors. B&W said Bethards will remain an advisor to the company for 12 months following the 2012 annual meeting to ensure a seamless transition.

Ferland has also been appointed to the B&W Board of Directors, effective upon becoming president and chief executive officer.

Ferland most recently served as president of the Americas division at Westinghouse Electric Co. Ferland was also recently named incoming president and chief executive officer for Westinghouse as of April 1, but resigned from the company on April 3.

Prior to joining Westinghouse Electric Co., Mr. Ferland served as senior vice president of Utility Operations for PNM Resources, Inc. in Albuquerque, N.M.  Before joining PNM, Ferland served as vice president, Global Nuclear Field Services for Westinghouse.

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