Fluor’s John Hopkins Assumes Role of Chairman and CEO of NuScale Power

IRVING, Texas--()--Fluor Corporation (NYSE: FLR) announced today that John Hopkins, group executive for Corporate Development & New Ventures, will assume the roles of chairman and chief executive officer for NuScale Power LLC. Fluor made its initial investment in NuScale in October 2011 and is today the majority investor in the company. Current NuScale chairman and CEO Paul Lorenzini will retire, but will continue as a consultant to the company. Commensurate with his move to lead NuScale, Hopkins will retire from Fluor at the end of March 2013.

“John Hopkins has played a significant leadership role in our company for almost three decades. He has brought a true professionalism to our sales force and worked across business groups and industries to deliver the comprehensive Fluor value that our global customers and clients have come to expect,” said David Seaton, Fluor’s chairman and chief executive officer. “Because of its importance to our company, I have asked John to take on this new challenge of leading NuScale's expansion of its strategic partnerships, efficiently managing costs and working to capture markets and geographies that best meet NuScale's business goals.”

“I look forward to taking on this new challenge and working with the NuScale management team as we move toward full commercialization and compete for business around the world,” said Hopkins. “I want to thank Paul Lorenzini for all he has done to bring NuScale from an initial idea to being on the cusp of delivering new, innovative and passively safe energy to customers around the world. I strongly believe in NuScale’s SMR technology and the potential it has to produce safe, reliable, scalable power.”

One of the key focal points for Hopkins will be working with his management team toward securing the next U.S. Department of Energy (DOE) Funding Opportunity Announcement (FOAs) that will support the development, licensing and commercialization of nuclear small modular reactor technology.

Both Fluor and NuScale continue to be approached by, and are evaluating potential investors, manufacturing partners and other supply chain members for future SMR development efforts.

Since joining Fluor in 1984, Hopkins has held a variety of senior management, sales and operations roles around the world. These positions have included: group president of Fluor’s Government Group; group executive of Fluor Global Services; president and chief executive officer of TradeMC, the capital goods sourcing venture jointly owned by Fluor and IBM; group president of Corporate Sales & Marketing, Corporate Development and Project Finance; president of Chemicals & Life Sciences; and president of Chemicals, Plastics & Fibers. He also has served in the company's government unit, where he gained experience in managing complex government contracts and completed a two-year assignment with the North Atlantic Treaty Organization (NATO) in Turkey.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Founded in 1912, the company was started by John Simon Fluor Sr. with a modest investment of $100. Since those humble beginnings, the company has grown into one of the largest engineering & construction companies in the world. Fluor is celebrating its 100th anniversary during 2012.

Today, through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011. For more information, visit www.fluor100.com and www.fluor.com.

Contacts

Fluor Corporation
Media Relations
Keith Stephens, 469-398-7624
or
Brian Mershon, 469-398-7621
or
Investor Relations
Ken Lockwood, 469-398-7220
or
Jason Landkamer, 469-398-7222

Release Summary

Fluor's John Hopkins Becomes Chairman & CEO of NuScale Power LLC

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Contacts

Fluor Corporation
Media Relations
Keith Stephens, 469-398-7624
or
Brian Mershon, 469-398-7621
or
Investor Relations
Ken Lockwood, 469-398-7220
or
Jason Landkamer, 469-398-7222