USA: Management Strategy Fluor Realigns Business Structure, to Divest Maintenance Services Business
Fluor has recently re-organized its business structure and from the first quarter of 2021, the company will carry out its operations under three business segments – Energy Solutions, Urban Solutions and Mission Solutions. The firm also has plans to sell its maintenance services business as part of its new business strategy.
Texas/USA – Fluor Corporation has recently announced an updated organizational and reporting structure that better aligns its business with identified growth markets and company strategy.
Beginning in the first quarter of 2021, Fluor will conduct its operations in three business segments: Energy Solutions, Urban Solutions and Mission Solutions.
Energy Solutions, led by Jim Breuer, will be focused on energy transition, chemicals and traditional oil and gas opportunities. Urban Solutions, led by Terry Towle, will pursue opportunities in mining, metals, advanced technologies, manufacturing, life sciences, infrastructure, and will include Fluor’s professional staffing (TRS) unit. Mission Solutions, led by Tom D’Agostino, will be primarily focused on delivering solutions to federal agencies across the U.S. Government and to select international opportunities. Additionally, Fluor has also established two newly-consolidated functional organizations: Project Execution, led by Mark Fields, and Corporate Development and Sustainability, led by Al Collins.
As a result of the strategic review, Fluor also determined that maintenance services no longer fits within the company’s core service portfolio. Therefore, the firm is initiating plans to sell its Stork business unit.