Foster Wheeler Welcomes New Directors
Foster Wheeler announced that its shareholders have elected Roberto Quarta, 62, and John M. Malcolm, 60, to the company's board of directors. Mr. Quarta was elected to serve a term expiring at the company's annual general meeting to be held in 2012. Dr. Malcolm was elected to serve a term expiring at the company's annual general meeting to be held in 2013.
Mr. Quarta joined Clayton, Dubilier & Rice LLC, a private equity firm, as an operating partner in 2001 and was appointed Chairman Europe in 2009. He served as Chief Executive Officer of BBA Group plc, a multinational aviation services and materials technology company, from 1993 to 2001, and then as Chairman from 2001 to 2007. Prior to that, he spent 17 years in a variety of senior management positions with BTR plc, a global diversified industrial conglomerate. Mr. Quarta currently serves as the Chairman of the Supervisory Board of Rexel SA, a leading global electrical distributor to the industrial, residential and commercial sectors. He serves on the Board of Directors of IMI plc, an international engineering group, and is expected to become non-executive Chairman commencing November 1, 2011. Mr. Quarta also serves on the Board of Directors of BAE Systems plc, a global defense, security and aerospace company, and is a member of the Compensation Committee. Previously, Mr. Quarta served as a director of Azure Dynamics Corporation, a manufacturer of hybrid electric vehicles, controls and powertrain systems, Equant NV, a global LAN telecommunications provider, and PowerGen plc, a major UK energy provider. He holds a BA degree from the College of the Holy Cross in Worcester, Massachusetts.
Dr. Malcolm has been an independent energy consultant since January 2011. Prior to that, Dr. Malcolm served for 25 years in various capacities with Royal Dutch Shell plc, a global group of energy and petrochemicals companies, including as the Managing Director of Petroleum Development Oman LLC, the largest oil and gas producer in Oman, from 2002 to 2010, and as General Manager/Managing Director of Al Furat Petroleum Company, the largest joint venture oil and gas producer in Syria, from 1999 to 2002. Dr. Malcolm also serves as a director of Partex Oil & Gas (Holdings) Corporation, an international oil and gas company. He holds a BA degree in Electrical & Electronic Engineering and a PhD in Process Control Engineering, both from Heriot-Watt University in Edinburgh, Scotland.
"Recognizing the broad and diverse experience that Roberto and John offer, we are extremely pleased that these two very accomplished gentlemen have chosen to join the Foster Wheeler board, and we all look forward to their future contributions," said Raymond J. Milchovich, Non-Executive Chairman of the Board of Foster Wheeler AG.
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