Foster Wheeler Appoints New Managing Director for E&C Group

Foster Wheeler announced that Roberto Penno has been appointed managing director of Global Sales, Marketing and Strategic Planning (GSM) for the company's Global Engineering and Construction (E&C) Group, effective June 1, 2009. Mr. Penno succeeds Giuseppe Bonadies, who will retire from Foster Wheeler on July 31, 2009, after 45 years of service with the company.

"Roberto has already proven his strong leadership and capabilities in key operational roles in our Global E&C Group and is very deserving of promotion to this position," said Umberto della Sala, President and Chief Operating Officer of Foster Wheeler AG. Mr. Penno will report to Mr. della Sala, who is currently also serving as acting head of the Global E&C Group.

Raymond J. Milchovich, chairman and chief executive officer, Foster Wheeler AG, said, "I would like to thank Giuseppe for his dedication and commitment to Foster Wheeler over a very long and distinguished career and for his personal contribution to the achievement of an outstanding E&C business-winning performance during his tenure as managing director of GSM."

Mr. Penno, 49, has been with Foster Wheeler for 21 years. During his career, he has held increasingly senior roles in operating unit management, sales and commercial management in Europe, Asia and the U.S. Most recently, he held the position of director of commercial operations, Foster Wheeler Asia Pacific.

Mr. Penno holds a Bachelor's degree in Mechanical Engineering from Milan, Italy, Polytechnic University.