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Fluor’s John Hopkins Assumes Role Of Chairman And CEO Of NuScale Power

Stocks in this article: FLR

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.

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