Australia: WorleyParsons Appoints New CEO

Chairman, Ron McNeilly, today announces that the Board of WorleyParsons has appointed Andrew Wood as WorleyParsons’ Chief Executive Officer and Managing Director, effective at the conclusion of the company’s 2012 Annual General Meeting on 23 October 2012. At that time Andrew will also join the WorleyParsons Board.

Andrew is a member of the company’s Executive Committee and currently holds the role of Group Managing Director – Finance with responsibility for Group-wide direction and support to the business functions of Finance, Information Management, Internal Procurement and Communications, Legal and Risk. Over his 18 years of service with WorleyParsons, Andrew has held a number of other key leadership positions including Managing Director of International Operations and Regional Managing Director for Australia and New Zealand. He was responsible for WorleyParsons’ early expansion into Thailand and the Middle East, Canada and Chile and subsequently managed the transformational acquisitions of Parsons E&C Corporation in November 2004 and The Colt Group of Companies in March 2007. Andrew has over 30 years’ experience in the oil and gas industry and holds a Bachelor Degree in Engineering and Graduate Diplomas in Financial Management and Labour Management Relations. He is also a Fellow of the Institution of Engineers, Australia. He is 52 years old.

Andrew will take over as CEO from John Grill who, more than 40 years ago, joined the company that became today’s WorleyParsons and led its growth from a small private domestic engineering firm to a publicly-listed company with global operations, approximately 40,000 employees in 44 countries and a market capitalisation today of approximately $6 billion. WorleyParsons is recognized as a global leader in the markets in which it operates.

Although John will retire as CEO and a director of the company after the AGM, he has accepted the unanimous invitation of the Board’s non-executive directors to re-join the Board in February 2013, following the release of the company’s first half 2013 financial results. At that time he will become non-executive Chairman of the Board and Ron McNeilly will become Deputy Chairman and Lead Independent Director.

In congratulating Andrew on his appointment as CEO designate, Ron McNeilly said: “Andrew has been identified by the Board as the right leader for WorleyParsons at this stage in its evolution. The Board has made this decision in the firm knowledge that Andrew is supported by a very capable senior executive team, both at the Executive Committee and CEO’s Committee levels. It signals our transition from a very successful past to a future that is full of opportunity and promise for the company.”

“The Board made the decision to appoint Andrew from a very strong field of internal candidates following a CEO succession selection process which has extended over approximately two years. The rigorous and externally benchmarked process has demonstrated that the depth of management talent and experience within the company is very impressive. It has also confirmed that the Board’s decision to appoint from within was correct.”

John Grill also extended his congratulations to Andrew and said: “I am confident that Andrew’s skills, experience and vision for the future of WorleyParsons will result in strong and successful leadership of the company. We have a very effective senior leadership team and I thank all of them for their support of Andrew’s appointment. I am looking forward to working with Andrew over the transition period and, after a break, taking on a new challenge as Chairman of the Board.”

Andrew Wood commented: “I am honoured to be selected as the next CEO of WorleyParsons. John has provided a legacy of achievement that has established the foundation and the inspiration for the future growth of the business. I know that we have the right strategies, an exceptional leadership team and the talented and committed people to continue to deliver for our customers and shareholders and continue the growth that has been a hallmark of our company. I am looking forward to working with the senior executive team, John and the Board over the next few months to ensure a smooth transition.”

[mappress]
LNG World News Staff, July 06, 2012