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Business & Labor
KBR Chief Promoted to No. 2 Spot at Halliburton
(enr.construction.com - 12/03/04)
By Tom
Ichniowski, with Debra K. Rubin and Mary Powers
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| Lane
now Halliburton's chief operating officer |
Halliburton Co. has promoted Andrew
Lane, 45, the head of its KBR engineering and construction
unit, to chief operating officer and executive vice president
of the parent company. Lane, whose promotion was announced
Dec. 2, has been CEO of KBR, the former Kellogg Brown &
Root, only since July.
In September, Halliburton CEO Dave Lesar
said it would "separate" KBR if the parent company's
stock does not "trade at multiples comparable to its
peers once it puts its asbestos problems behind it."
He added that KBR could be sold, spun off, or be the subject
of an initial public stock offering.
KBR has been in the spotlight because
of its federal contracts in Iraq.
Along with announcing Lane's new job, Halliburton said that
John Gibson, CEO of its energy services group, will be leaving
to pursue "a leadership role in another company."
With Lane's promotion and Gibson's departure,
Halliburton said its business units won't have chief executive
officers.
Lesar remains Halliburton's chairman,
president and CEO.
(Photo courtesy of Halliburton Co.)
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