KBR CEO Utt to retire next year

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Associated Press

Posted on December 16, 2013 at 10:32 AM

Updated Monday, Dec 16 at 10:32 AM

HOUSTON (AP) — KBR Chairman, President and CEO William Utt will retire from his positions next year, the engineering, construction and services company said Monday.

KBR Inc.'s board has created a search committee to help find Utt's successor. The company said that Utt will remain in his current roles until a new CEO is named.

Utt said in a statement that after more than eight years at KBR, he is looking forward to spending more time with his family and pursuing other personal and professional opportunities.

KBR shares closed at $31.07 on Friday. Its shares are up almost 4 percent for 2013.

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