KBR Announces CEO Transition Plan

  KBR Announces CEO Transition Plan

                   William P. “Bill” Utt to Retire in 2014;
       Board of Directors Forms Search Committee to Identify Successor

Business Wire

HOUSTON -- December 16, 2013

KBR, Inc. (NYSE: KBR) today announced that William P. “Bill” Utt will retire
from his role as Chairman, President and Chief Executive Officer in 2014. The
Board of Directors has formed a search committee to identify his successor. To
ensure a smooth transition, Mr. Utt will continue to lead KBR in his current
positions until a new CEO is appointed and will support the Board’s search
process. The Board has retained Russell Reynolds Associates, a leading
executive search firm to assist in the process.

William P. “Bill” Utt will retire from his role as Chairman, President and
Chief Executive Officer o ...

William P. “Bill” Utt will retire from his role as Chairman, President and
Chief Executive Officer of KBR in 2014. (Photo: Business Wire)

“It has been a privilege to lead the finest employees in the industry, whose
commitment, integrity and ingenuity never cease to impress me,” said Mr. Utt.
“I believe that we have built a strong platform for long-term growth, and I am
confident in the Company’s future. After more than eight years at KBR, I am
now looking forward to the next chapter of my life with more time for family
and the opportunity to pursue other avenues for my personal and professional
growth. At the same time, I am fully committed to helping the Board identify
my successor and effecting a smooth leadership transition.”

Loren Carroll, KBR lead Director, said, “We want to thank Bill for his
commitment and many contributions to KBR. Under his leadership, KBR has built
a strong foundation for growth and navigated many unique challenges of our
industry. We believe we are well positioned for the future and look forward to
identifying a new leader who will leverage the Company’s broad geographic
footprint, extensive capabilities and strong customer relationships to drive
results. We appreciate Bill’s continued contributions and dedication to
ensuring a seamless transition and we wish him the best in his future
endeavors.”

KBR is a global engineering, construction and services company supporting the
energy, hydrocarbon, chemicals, government services, minerals, civil
infrastructure, power, industrial, and commercial markets. For more
information, visit www.kbr.com.

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Contact:

KBR, Inc.
Zac Nagle, 713-753-5082
Vice President, Investor Relations and Communications
investors@kbr.com
or
Rick Goins, 713-753-8209
Director of Communications
mediarelations@kbr.com
 
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