Babcock & Wilcox President and Chief Executive Officer Brandon Bethards, who shepherded Department of Energy contractor B&W through its spinoff from McDermott International, is retiring and will be replaced by Westinghouse CEO Jim Ferland, whose tenure at the nuclear firm lasted only two days. Ferland will take over the reins at B&W when Bethards formally steps down April 19; Bethards, 64, will retire from the company and resign from its Board of Directors at its annual shareholders meeting May 8, but will remain an advisor to the company for 12 months “to ensure a seamless transition.” Bethards took over as B&W’s President and CEO in 2008.
Ferland, 45, served as Westinghouse’s Americas Division President until he was named the company’s CEO earlier this year. He was slated to formally take over at Westinghouse April 1, and he tendered his resignation April 3, according to the company. According to B&W, Ferland has more than 23 years of experience in the commercial nuclear power and utility industry. Ferland previously spent time as the Vice President of Utility Operations for Albuquerque-based PNM Resources and as the President and CEO of Louisiana Energy Services, where he oversaw the company’s push to obtain a Nuclear Regulatory Commission construction and operating license for a new enrichment facility. He also worked at several U.S.-based utilities and as a nuclear test supervisor at General Dynamics. “Jim’s unique qualifications and effective leadership skills ideally suit him to lead B&W in its next phase of growth and development,” John Fees, the Chairman of B&W’s Board of Directors, said in a statement. “I look forward to working closely with Jim as we build upon the strong foundation already in place at B&W and continue to execute our strategic priorities and create stockholder value.”
