For the second time in less than two years, Fluor is naming a new chief executive officer.
The Texas-based company said in a Monday filing with the Securities and Exchange Commission that it has named a board of directors member, David Constable, as the new CEO replacing Carlos Hernandez who has only been in the top job since May 2019.
Constable held various management roles within Fluor from 1982 to 2011, before returning as a board member in 2019. From 2011 to 2016, Constable served as CEO of Sasol Ltd, a global energy and chemicals company.
Hernandez took over as CEO in May 2019 replacing David Seaton. Seaton had been the top boss since 2011 and left the engineering, procurement and construction company at a time of disappointing financial performance. Hernandez was Fluor’s senior vice president when he was elevated to the top job and had served 12 years in Fluor management positions.
For much of Hernandez’s tenure, however, the company has been wrestling with federal investigations by the Justice Department and the Securities and Exchange Commission about irregularities in some 2019 financial reports. Fluor only recently reported its results for 2019 and the first quarter of 2020.
“It has been an honor to serve as CEO of Fluor over the last year and a half, and a member of this great team for over a decade,” Hernandez said in the company statement. “While it has been a challenging time for Fluor, we have made significant progress conducting our strategic review, strengthening our operations and completing the restatement of our financial results. Particularly, with the onset of the COVID-19 pandemic, I am proud of how our team adapted to the dynamic environment,” he added.
Fluor is the senior partner on the incumbent management and operations contractor at the Savannah River Site in Aiken, S.C., the leader of the Idaho National Laboratory cleanup contractor, and an integrated industry subcontractor on the management and operations contract for the Los Alamos National Laboratory, among others.
