NS&D Monitor
2/07/2014
IN THE INDUSTRY
Marking the first time a nonfamily member has been selected to lead Bechtel, Bill Dudley has been named the company’s new President and CEO, effective immediately. Dudley, who previously held the position of president and chief operating officer, replaces Riley Bechtel, who is “stepping down for health reasons from day-to-day operations,” according to a Bechtel release. Riley Bechtel will continue to serve as Chairman of the company’s Board of Directors. “For many years Bechtel has approached succession planning with diligence to ensure smooth transitions in leadership. Our plan includes provision for unplanned events, which we are now encountering. We are well prepared to act quickly in everybody’s best interest with no loss of momentum,” Bechtel said in the release. “Bill has been our top candidate for CEO succession for some time, and he is well qualified in every respect to take over now. He will be an outstanding CEO for our company; he is highly regarded by our colleagues, customers, partners, and suppliers. I have tremendous confidence in Bill’s ability to continue to move the company forward.”
IN THE ADMINISTRATION
Mike McFaul is resigning as the U.S. Ambassador to Russia and leaving the Obama Administration after the Sochi Olympics, he said this week. McFaul has served as the U.S. Ambassador to Russia since 2011, spearheading diplomatic relations with Russia during a volatile time period. Relations with Russia in recent years have grown tense over a variety of concerns, including U.S. missile defense plans in Europe. Prior to moving to Moscow, McFaul was a senior advisor to President Obama on national security issues and helped engineer the “reset” with Russia while also playing a key role in negotiations on the New START Treaty. “There’s no political issue here at all whatsoever,” McFaul told reporters in Russia. “There is no disenchantment with U.S.-Russian relations or all of those kinds of those things.”
