Fluor appoints new CEO as David E. Constable becomes executive chairman

He will take over the role from David E. Constable, who moves to the role of executive chairman on the same date.

Breuer has held the role of chief operating officer since 2024 and has worked at the company for 31 years, having previously held several other leadership positions, including group president of energy solutions.

Jim Breuer (Image: Businesswire)

Constable said, “I am incredibly proud of what we have achieved over the past four years under our ‘building a better future’ strategy, having strengthened our balance sheet, secured a high-quality backlog and restored stakeholder confidence in our project delivery value proposition.

“Jim has played an instrumental role in our success and the Board and I have full confidence in his ability to lead Fluor, as we transition from a ‘fix and build’ phase to the next chapter of our strategy, ‘grow and execute’. Jim’s deep knowledge of our global operations, markets, partners and clients will be crucial in driving our heightened focus on business growth, executing projects with excellence, developing the next generation of leaders and delivering sustainable earnings.”

Breuer said, “I am grateful to the Board of Directors for the opportunity to lead Fluor at this pivotal time and to build on the strong platform for growth we have collectively established under David’s leadership.”

Fluor also reported its full-year earnings for 2024, with revenue for the year increasing slightly to $16.3 billion, up from $15.5 billion the year before. The company generated an adjusted EBITDA of $530 million for the year.

However, its total order backlog fell slightly to $28.5 billion, down from $29.4 billion in 2023. That was off the back of a drop in total new awards in 2024, which totalled $15.1 billion, down from $19.5 billion in 2023.