FONT-SIZE Plus   Neg

Babcock & Wilcox Names James Ferland CEO; Backs 2012 View

The Babcock & Wilcox Co. (BWC), a provider of clean energy technology, Wednesday announced the appointment of James Ferland as its president and chief executive officer, effective April 19. Ferland will succeed Brandon Bethards, who will retire from the posts on the same date.

Ferland has also been appointed to the B&W Board of Directors, effective upon becoming President and CEO.

The company also reiterated its full-year 2012 outlook issued on February 29. It continues to expect to achieve, on a consolidated basis, double-digit, year-over-year revenue growth.

Bethards will retire from the company and from the Board of Directors, effective at its Annual Meeting of Stockholders, which is scheduled for May 8. However, he will remain an advisor to the firm for the 12 months following the Annual Meeting to ensure a seamless transition, the company stated.

Most recently, Ferland served as President of the Americas division at Westinghouse Electric Co. Prior to joining Westinghouse, Ferland served as Senior Vice President of Utility Operations for PNM Resources, Inc.

John Fees, Chairman of the Board of Directors said, "Jim brings to B&W more than 23 years of experience in the commercial nuclear power and utility industry."

BWC is currently trading at $25.43, down 1.15 percent, on the NYSE.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
AT&T announced a definitive agreement to purchase Time Warner in a stock-and-cash transaction valued at $107.50 per share. This purchase price implies a total equity value of $85.4 billion and a total transaction value of $108.7 billion, including Time Warner's net debt. AT&T expects the deal to close before year-end 2017. Chipmaker Qualcomm is reportedly in talks with NXP Semiconductor NV (NXPI) for a possible acquisition, reports said. According to Bloomberg, negotiations are on with a probable price of $110 t $120 per NXP share. The deal would value NXP at around $34.7 billion. Regulators have confirmed the eleventh U.S. fatality linked to Takata Corp.'s defective air bag inflators. The National Highway Traffic Safety Administration or NHTSA said Thursday that a crash fatality in Riverside County, California, was tied to the rupture of a recalled Takata air bag inflator.
comments powered by Disqus
Follow RTT