Fluor Corp. (FLR) Announces New Business Segments and Intent to Divest Its Maintenance Services Business

Fluor Corporation (NYSE: FLR) announced today an updated organizational and reporting structure that better aligns its business with identified growth markets and company strategy.

Beginning in the first quarter of 2021, Fluor will conduct its operations in three business segments: Energy Solutions, Urban Solutions and Mission Solutions.

Energy Solutions, led by Jim Breuer, will be focused on energy transition, chemicals and traditional oil and gas opportunities. Urban Solutions, led by Terry Towle, will pursue opportunities in mining, metals, advanced technologies, manufacturing, life sciences, infrastructure, and will include Fluor’s professional staffing (TRS) unit. Mission Solutions, led by Tom D’Agostino, will be primarily focused on delivering solutions to federal agencies across the U.S. government and to select international opportunities. Additionally, Fluor has also established two newly-consolidated functional organizations: Project Execution, led by Mark Fields, and Corporate Development and Sustainability, led by Al Collins.

More information on the entire senior management team can be found in the Corporate Officers section of our website.

As a result of our strategic review, we have determined that maintenance services no longer fits within Fluor’s core service portfolio. Therefore, the company is initiating plans to sell Stork. Additional information will be provided at our January 28 Strategy Day event.

You May Also Be Interested In

• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• T-Mobile (TMUS) and EQT Announce JV to Acquire Lumos
• AbbVie (ABBV): New Data Show RINVOQ Demonstrated Superiority Versus DUPIXENT Across Primary and All Secondary Endpoints