Foster Wheeler Makes BoD Changes (Switzerland)

Foster Wheeler AG announced that its shareholders have elected J. Kent Masters, 50, and Henri Philippe Reichstul, 62, to the company’s board of directors.

Masters was elected to serve a term expiring at the company’s annual general meeting to be held in 2012. Reichstul was elected to serve a term expiring at the company’s annual general meeting to be held in 2014.

Masters became Chief Executive Officer​ of Foster Wheeler AG on October 1, 2011. Prior to joining the company, he served as a member of the Executive Board of Linde AG, a world-leading gases and engineering company, from 2006 to 2011. At Linde, Masters had responsibility for the Americas, Africa, the South Pacific, the global business unit Healthcare, and the business area Merchant and Packaged Gases. He was employed by BOC Group​ plc, a global industrial gas company that was publicly traded on the London Stock Exchange, from 1984 until the acquisition of BOC by Linde in 2006. Masters served in roles of increasing responsibility at BOC, including as Chief Executive, Industrial and Special Products, from 2005 to 2006, and as President, Process Gas Solutions-Americas, from 2002 to 2005. He also served on the board of directors of BOC from 2005 to 2006. Masters has been a director of Rockwood Holdings, Inc., a global manufacturer of chemicals and advanced materials whose shares are publicly traded on the NYSE, since 2007, and serves on its Audit and Compensation Committees.

Reichstul is the founder and has been the Chief Executive Officer of G&R — Gestão Empresarial, a consulting firm — since 2003. He served as Chairman and Chief Executive Officer of Brenco (Companhia Brasileira de Energia Renovável), a Brazilian ethanol production company, from 2007 until 2010. He served as President of Globopar S.A., a leading Brazilian media company, from 2002 to 2003, and as Chief Executive Officer and President of Petrobrás (Petroleo Brasileiro S.A.), a Brazilian petroleum company, from 1999 to 2001. Reichstul served as Executive Vice President​ and a Partner of Banco Inter-American Express S.A., a private financial institution, from 1988 to 1999. Reichstul served in various government positions in Brazil from 1983 to 1987, including Secretary General of the Ministry of Planning. Reichstul currently serves as a member of the board of directors for Repsol YPF, S.A., an international oil and gas company, and PSA Peugeot Citroën, a publicly traded French automobile company.

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Source: Foster Wheeler, November 1, 2011