KBR, Inc. (KBR) has announced that in the first quarter of 2017 (1Q17) Mark Sopp will join the company as Chief Financial Officer (CFO). Current CFO Brian Ferraioli has decided to retire to spend more time with family. Ferraioli and Sopp will work closely together to ensure a managed and smooth transition for KBR's financial organisation.
Sopp brings many years of financial leadership experience to KBR. From 2005 - 2015, he served as CFO and Executive Vice President for Leidos Holdings, previously called SAIC, which is one of the largest publicly traded government contractors in the US and also has significant technically-focused commercial professional services operations, including serving energy markets. Previously, Sopp served in various executive positions with Titan Corporation, also involved in government contracting and commercial business areas. He earned his Bachelor's Degree in Accounting from New Mexico State University and completed the executive programme from the Anderson School of Management at UCLA.
"We look forward to Mark joining KBR," said Stuart Bradie, KBR President and CEO. "Along with his extensive financial and capital markets expertise, Mark's long time experience in the government contracting sector, including knowledge of the government services investment community, will be immensely helpful as KBR expands our Government Services segment to achieve better balance between our government and hydrocarbons businesses."
"The addition of KBRwyle has brought a large number of reimbursable professional services contracts to our portfolio and we are seeing continued expansion of existing government contracts and task orders for the US and UK governments. To that end, I am confident that with Mark on our team we will achieve further shareholder value and financial success going forward," Bradie continued.
"We greatly appreciate Brian's fiscal leadership during his time at KBR. He has made many significant contributions, overseeing all the financial affairs of the company, helping strengthen our financial management and reduce our overall cost structure, and his sage advice has been a great help to me personally. We thank Brian for his service to the company and we wish him the very best in his well deserved retirement" said Bradie.
Read the article online at: https://www.hydrocarbonengineering.com/product-news/15122016/kbr-announces-new-cfo/