Foster Wheeler Names Interim CEO

Foster Wheeler announced that Umberto della Sala, 62, has been named Interim Chief Executive Officer, effective October 22.

Mr. della Sala fills the CEO position vacated by Robert C. Flexon, who left the company on October 22 to pursue other interests.

The company has begun an external search to find a permanent Chief Executive Officer. Raymond J. Milchovich, the company's Non-Executive Chairman of the Board and consultant to the company, will provide support for Mr. della Sala as needed during the interim period.

"The company is fortunate to have an executive of Umberto's caliber who can assume this position," said Mr. Milchovich. "The two of us have worked closely together for nearly a decade and, during that time, I have continually been impressed with the depth and breadth of his understanding of our business and his capabilities. During this interim period, I plan to assist Umberto in any way he deems additive and helpful."

Mr. della Sala said, "Foster Wheeler's global team of commercial, technical and operating personnel is extraordinarily skilled and devoted. We remain focused on applying this expertise in the market to meet or exceed the needs of our clients. In addition, we plan to follow through with and conclude the strategic renewal initiative that we had launched earlier this year."

Mr. della Sala joined Foster Wheeler in Milan in 1973 as a process engineer. He was appointed in 2001 as President and CEO of FW Continental Europe. In 2005 he was appointed as Foster Wheeler CEO Global Engineering & Construction Group. He assumed the role of President and Chief Operating Officer of Foster Wheeler in 2007. While in the Interim CEO position, he will retain the critical duties associated with the role of President and Chief Operating Officer.