Fluor Corporation (NYSE: FLR) announced today that John Hopkins, group executive for Corporate Development & New Ventures, will assume the roles of chairman and chief executive officer for NuScale Power LLC. Fluor made its initial investment in NuScale in October 2011 and is today the majority investor in the company. Current NuScale chairman and CEO Paul Lorenzini will retire, but will continue as a consultant to the company. Commensurate with his move to lead NuScale, Hopkins will retire from Fluor at the end of March 2013.
“John Hopkins has played a significant leadership role in our company for almost three decades. He has brought a true professionalism to our sales force and worked across business groups and industries to deliver the comprehensive Fluor value that our global customers and clients have come to expect,” said David Seaton, Fluor’s chairman and chief executive officer. “Because of its importance to our company, I have asked John to take on this new challenge of leading NuScale's expansion of its strategic partnerships, efficiently managing costs and working to capture markets and geographies that best meet NuScale's business goals.”
“I look forward to taking on this new challenge and working with the NuScale management team as we move toward full commercialization and compete for business around the world,” said Hopkins. “I want to thank Paul Lorenzini for all he has done to bring NuScale from an initial idea to being on the cusp of delivering new, innovative and passively safe energy to customers around the world. I strongly believe in NuScale’s SMR technology and the potential it has to produce safe, reliable, scalable power.”
One of the key focal points for Hopkins will be working with his management team toward securing the next U.S. Department of Energy (DOE) Funding Opportunity Announcement (FOAs) that will support the development, licensing and commercialization of nuclear small modular reactor technology.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV