Brendan Bechtel, the newly installed CEO of construction and engineering giant Bechtel, was ranked No. [7], Brendan is the son of Riley P. Bechtel and the eldest of three children. The company, which has a long history in the kingdom, is currently part of a consortium building two lines of the Riyadh Metro and is working on the futuristic Neom project. Together with our customers, we deliver landmark projects that foster long-term progress and economic growth. It has defied the maxim that family businesses inevitably decline after a couple of generations or thrive only by switching to professional management. Their next six games are against Western Conference teams they'll be battling with for a postseason spot. He was elected chairman the following year, at age 36. Since 1898, Bechtel has helped customers complete more than 25,000 projects in 160 countries on all seven continents. A graduate of Middlebury College in Vermont, Bechtel also earned an MBA and a master's degree in construction engineering and management from Stanford University. [20] When taking time off, he enjoys skiing and fishing in California and the Rocky Mountains.[10]. It is getting started on two additional trains for Cheniere in Corpus Christi. At the four facilities, Bechtel oversees about 16,000 employees who run IT, procurement, human relations, and all other management services. Powered and implemented by Interactive Data Managed Solutions. Brendan Bechtel 80 Ratings View open jobs at this location Bechtel Houston, TX Reviews 5.0 Current Employee, less than 1 year "Great culture, interesting work" Feb 16, 2023 - Material Planner in Houston, TX Recommends Positive Outlook Pros Private company Culture of integrity and care Interesting work Awesome range of projects Cons S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Company Description: Global engineering, construction, and project management firm Bechtel Group serves sectors including oil, gas and chemical, infrastructure, metals, nuclear, environmental, mining, and security. Bechtel declines to disclose its profits, but its CFO, Peter Dawson, says that its return on sales is a low-single, stands on four legs: mining, nuclear and government, oil and gas, and infrastructure. Brendan Peters Bechtel (born 1981) is an American businessman who is the chairman and CEO of the Bechtel Group, Inc., an American privately-owned engineering, construction, and project management firm. This modern Mneefah, however, grinds along rather than gallops. The family has a resident at Menlo Park in California. Were basically a service business, he says. Well be conservative and estimate that in a decent year Bechtel earns 2% on its sales of $40 billion, or $800 million after tax (but before bonuses to nonshareholders). All Rights Reserved. In that sense, Brendans campaign to polish Bechtels public image is as much about retaining the companys best talent as it is about recruiting employees. Violation thereof or improper use may result in discipline ranging from withdrawal of access privileges up to and including immediate dismissal. The five trains in Sabine Pass and a sixth that Cheniere may build represent $11 billion in business for Bechtel. Gala: Bella Notte on January 19th 2012 in San Francisco, CA There are 5 beds and 7 baths in about 5,700-square-feet of living space. Bechtel designed the military space shuttle facility at Vandenburg Air Force Base. His grandson Brendan Bechtel succeeded Riley Bechtel in 2016. As a private company, he notes, Bechtel doesnt need to grow, It can pick and choose projects with reasonable margins, even if that means allowing revenues to shrink until the next upswing in energy prices. Brendan Bechtel interviews U.S. Secretary of Transportation Pete Buttigieg May 10, 2021 By: Brian Hertzog By recently introducing a $2 trillion infrastructure bill, the Biden administration is putting the spotlight on a critical challenge facing the country: Old infrastructure is costing the U.S. billions and eroding our ability to compete. [10][1] One of his first jobs was to install security cables for laptops at the company headquarters in San Francisco. User consents to monitoring and recording of use and agrees to comply with Bechtel policies and procedures. Here is a look at what to expect this year: Subscribe to Construction Dive for top news, trends & analysis, The free newsletter covering the top industry headlines, GOAALLL! Brendan Bechtel served as the company's president and chief operating officer from 2014 to 2016 before being named CEO in 2016. We dont want people in mining to suffer because of a big downturn and folks in oil and gas to make more because the market is great, he says. FORTUNE may receive compensation for some links to products and services on this website. Topics covered: labor shortage, recruiting & retaining workers, OSHA & Department of Labor rulings, safety protocols, and more. But Brendan Bechtel decided that the family company was his future and went back to school to get an MBA and a masters in engineering at Stanford. We are dedicated to creating the highest quality hand poured 100% soy candles. Industry experts generally acknowledge that Bechtel and its smaller, publicly traded U.S. rival, In 2010 he embarked on a series of jobs at Bechtel designed to test his mettle as a potential CEO. We used to see the Chinese contractors mainly in Africa, says Dudley, Bechtels CEO. Sabine Pass, liquified natural gas project in LouisianaCourtesy of Bechtel. Lehman Smith McLeish. At $10.1 billion, the Riyadh job is the biggest lump-sum civil engineering project ever awarded to a single team, and its being done for a fixed price. The vision for a futuristic, innovative and sustainable ecosystem is unique and bold, and we believe Neom will change the way new cities are developed . C-SPAN, an acronym for Cable-Satellite Public Affairs Network, is an American cable television network that offers coverage of federal government proceedings and other public affairs programming via its three television channels (C-SPAN, C-SPAN2 and C-SPAN3), one radio station and a group of. Kohl's CEO Tom Kingsbury says Kohl's has a solid foundation, But the latest earnings results show he has a lot of work to do. The Bechtel board had to radically revise its succession plans in early 2014, when Riley Bechtel, Brendans father and a long-serving, 4th generation CEO, was diagnosed with Parkinsons disease. According to both Bechtel and its client, the Riyadh Development Authority, the metro isnt endangered by looming budget cuts in the kingdom. The construction industry had another name on the list with Caterpillar Chief of Analytics Morgan Vawter, also 35 years old, who is bringing the equipment giant into the digital age by incorporating drones and sensor-based equipment monitoring systems in the company's business model. LSM is a mid-sized international design practice and consultancy, headquartered in . Until recently, LNG looked like a great growth market. [10][1] He is also on the board of advisers for the Fremont Group, the private investment office for the Bechtel family,[1] which invests in real estate and venture capital. Notable projects in Western Australia include the Pluto Train 2 gas pipeline and the Wheatstone natural gas hub. His father was an executive vice . Since then its tankedalong with prices for copper, aluminum, and iron ore. Like many other major private companies, Bechtels leaders feels they can no longer afford to hide behind its closely held status and let others control the narrative about its business. Bechtel has been building the Hanford plant for the disposal of nuclear waste since 2000, for example, and the first phase isnt scheduled for completion until 2022. Lets assume Bechtel adds 20% of its profits each year to its capital and earmarks an additional 30% to pay bonuses and invest in special projects. He is currently single. Most of the rules apply uniformly to the Bechtels and their partners. Down in the tunnel, meanwhile, the Mneefah con, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. That justified paying more for faster delivery., Interviews with industry experts, analysts, and competitors support that view. On this Wikipedia the language links are at the top of the page across from the article title. The board followed its succession plan by. BRENDAN BECHTEL, CHAIRMAN & CEO OF BECHTEL, ON THE URGENCY OF MODERNIZING AMERICA'S INFRASTRUCTURE. See the full leadership team at Craft. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All Rights Reserved. The fifth generation of Bechtels is taking charge at a challenging time, when the next such coup may be far over the desert horizon. Ahna and Alexander Chip. Because of both its size and the crucial nature of the infrastructure it builds, this year Bechtel ranks No. When a manager is named senior vice president, he or she gains the right to purchase Bechtel shares and becomes a partner. In fact, in his op-ed piece, Bechtel wrote that the U.S. should look to Canada as a model of how to use P3s to tackle infrastructure projects. Brendan has been training for the top job for a number of years. We do lots of work for the Department of Energy, and all of those projects are competitively bid. By late 2013 he had reached the next rung: leading Bechtels biggest business, oil and gas. The properties are not contiguous, but they are located up the very same private driveway. Now a new generation is poised to take chargeat an absolutely pivotal moment, when the global construction industry is undergoing sudden, wrenching change. Offers may be subject to change without notice. If industry safety numbers are murky, how can construction companies measure improvement? The family-owned shares, for example, carry no special voting rights. Even though construction salaries are rising faster than those in most other industries, contractors are struggling to hire and retain new employees. Dirt is a part of Penske Media Corporation. Biffy and Chris Cathcart. The board followed its succession plan by naming Dudley, then president, to replace Riley Bechtel, who remains chairman. CEO approval 89 % approve of Brendan Bechtel's performance 86 % approve of Alan Boeckmann's performance Salary satisfaction 79 % think they are paid fairly at Bechtel 84 % think they are paid fairly at Fluor Corp. Bechtel reviews 1.0 on November 30, 2022 1 star Supervisor (Current Employee) - Houston, TX Our people are our assets. Unlike them, we wont lose dumb. His company, he asserts, will stay patient and plan long term. Mining spiked from 2009 to 2013, for instance, almost matching oil and gas as Bechtels largest division. The tunnel-boring machine, or TBM, is longer than a Boeing 747 and weighs five times as much. About Bechtel family Bechtel, the $21.8 billion (revenues) engineering and construction business based in Virginia, has been family run for five generations. Father of Riley Stephen Bechtel Jr. was born as Stephen Davison Bechtel Jr. on 10th May 1925 in Oakland, California. Unlike them, we wont lose dumb.. Get the free daily newsletter read by industry experts. Last month Apple began streaming MLS games and next month Apple will begin their second season of streaming MLB games. Brendan Bechtel acknowledges that a hiatus is at hand. And now Bechtels most expansionist, optimistic customer is no longer running Cheniere. Topics covered: commercial, infrastructure, design, green, regulation, multifamily construction, and more. Among the challenges are surmounting delays from rerouting utility lines and creating special designs to overcome the desert conditions, specifically, the clouds of sand that can overwhelm the site without warning. Cheniere Energy, Inc. Investors Randy Bhatia, 713-375-5479 Frances Smith, 713-375-5753 Media Relations Eben Burnham-Snyder, 713-375-5764 All employees must retire at the end of the year after their 65th birthday and, upon leaving, sell their shares back. The construction giant built the Trans-Arabian Pipeline for the Saudis in the 1940s, and it has been supervising additions to the giant petrochemical complex of Jubail since 1976. Bechtel Location 12011 Sunset Hills Rd, Reston, Virginia, 20190, United States Description Industry Construction Discover more about Bechtel (His brother, Darren Bechtel, is a venture capitalist in San Francisco, and his sister, Katherine Bechtel, works as a cost and schedule planner for Bechtel.) Early life [ edit] He is the great-grandson of Warren A. Bechtel, the company's founder. "Craig is ideally suited to lead our operations in an era when customers are looking to us for partnership, innovation and sustainable solutions to help meet the defining challenges of the 21st century," Brendan Bechtel said in a statement . Bechtel declines to disclose its profits, but its CFO, Peter Dawson, says that its return on sales is a low-single-digit number, comparable to a big retailer like Target (TGT) or Safeway (SWY). New court filings suggested Fox News hosts repeatedly pushed election fraud claims on-air despite acknowledging privately they knew they were false. [11] In an interview that year with the Washington Business Journal, he stated that he had no interest in taking the company public, preferring instead to retain more control and focus on profitability without the pressure to achieve "growth for growth's sake". In its role as Executive Project Manager, Bechtel will draw on over 120 years of industry experience to deliver a lasting positive impact in NEOM. Heres a short list of its signature projects: the Hoover Dam (completed in 1936), the Trans-Arabian Pipeline (1950), the Bay Area Rapid Transit system (1976), NASAs Space Launch Complex 40 (1992), the Channel Tunnel (1994), and the Athens Metro (2004), not to mention Jubail in Saudi Arabia, where Bechtel has been overseeing the construction of one of the worlds largest industrial cities for over 40 years. Bechtel is one of the world's most respected global engineering, construction, and project management organizations. The second is the broad array of businesses that cushions Bechtel against big drops in one or two sectors, such as the recent declines in mining and oil. BUILDING THE ENERGY FUTURE Brendan Bechtel is chairman and chief executive officer of Bechtel Group, Inc. (Bechtel). Over the decades, Bechtel has had no better customer than Saudi Arabia. Since then its tankedalong with prices for copper, alu, A mounting threat to Bechtel and other global builders is coming from the Chinese. The tunnel-boring machine, or TBM, is longer than a, At $10.1 billion, the Riyadh job is the biggest lump-sum civil engineering project ever awarded to a single team, and its being done for a fixed price. With Gulf States shrinking their investment plans, mining in the doldrums, and new LNG projects on hold, Brendan faces an extremely tough market. He became CEO in 2016 and chairman & CEO in 2017. Wife and Children of Riley He is married to Susan and they have three children. And he is embarking on one of Bechtels biggest renovation projects ever: a transformation of the companys tarnished public image. After a lot of sleepless nights, however, Yolanda realized that Mr. Bechtels main abode is not located in SF rather, he lives in the tony (and tiny) town of Woodside, CA. The fifth generation of whats arguably the most successfuland durablefamily dynasty in American industry is about to take charge of one of the largest engineering and construction enterprises in the world. In 2010 he embarked on a series of jobs at Bechtel designed to test his mettle as a potential CEO. Born: Brendan Peters Bechtel 1981 (age 40-41) Occupation: Chairman and CEO News Discussing Craft Professionals at The White House Bechtel - Fri, 17 Jun 2022 New Manufacturing and Technology Business Bechtel - Tue, 12 Apr 2022 Bechtel Focuses on Partnerships & Sustainability Bechtel - Tue, 24 May 2022 Together, Riley and. On September 1, Brendan Bechtel, 35, will become CEO of Bechtel, succeeding Bill Dudley, who will stay on as vice chairman. Beth and Michael Clifton. Let Construction Dive's free newsletter keep you informed, straight from your inbox. We had a real devil of a time tracking down Mr. Bechtels main Bay Area residence, yall. [19][17] Speaking on behalf of the Business Roundtable, he said that he and other business leaders were in discussions with the Biden administration and with members of Congress, advocating alternative ways to pay for new infrastructure, including user fees, deficit financing, and public-private partnerships. His career path was orchestrated by the boards senior management and development committee, or Smecdec. Its five members include Riley Bechtel and his father, 91-year-old Steve Bechtel Jr., as well as a group of heavyweight outside directors: David OReilly, a former CEO of, Bechtels biggest business, oil and gas. After stumbling in the early 2000s by diversifying into tech investments and owning power plants, Bechtel refocused its traditional pillars: oil and gas, government projects, mining and minerals, and giant infrastructure jobs, such as the more than $10 billion Riyadh Metro, and the Crossrail suburban mass transit system in London. Steve Jr. served led Bechtel for three decades, and Brendan told Fortune that he expects to enjoy a tenure to match his grandfathers. Brendan Bechtel is an American businessman who is the chairman and CEO of the Bechtel Group, Inc., an American privately-owned engineering, construction, and project management firm. Theranos Inc. said Riley Bechtel, chairman of the construction giant Bechtel Corp., had retired as a director of the embattled blood testing startup. Bechtel Celebrates 125 Years. [8] At the age of three, he lived with his family in a trailer at a Bechtel construction site in Borneo. Interviewer: Brian OKeefe, Fortune Bechtels business stands on four legs: mining, nuclear and government, oil and gas, and infrastructure. The company traces its beginning to 1898 when Brendan's great-great grandfather, Warren Bechtel, began constructing railroads in the Oklahoma Territory with a team of mules. Mr. Bechtel in an undated photo talking to students about engineering at a school in San Francisco. [fortune-brightcove videoid=4897960282001 autostart=true], The Riyadh Metro is just the kind of epic, technically mind-boggling undertaking that makes its lead contractor, Bechtel, perhaps the worlds leading builder of one-of-a-kind megaprojects. Meanwhile, Bechtel is doing a brisk business in the U.S. building the gas-fired power plants that are rapidly replacing costly coal-burning dinosaurs. He became CEO in 2016 and chairman & CEO in 2017. Over its 118-year history, Bechtel has arguably changed the face of the physical world more than any other company, anywhere. But theyre trying to become more and more like we are and competing on sophisticated projects in the Middle East.. That view of Bechtel was given new currency this year by the publication in March of The Profiteers, a Bechtel expos by veteran investigative reporter Sally Denton. 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