DALLAS, Sept. 6,
2024 /PRNewswire/ -- Jacobs (NYSE:J) announced today
that Bob Pragada, Jacobs' CEO, has
been appointed to the additional position of Chair of the Board
effective upon close of the separation of its Critical Mission
Solutions and Cyber and Intelligence businesses. Pragada becomes
the fourth Chair in the company's history.
Steve Demetriou, who has served
as Chair since 2016, will be joining Amentum as their new Executive
Chair following the separation, where he will bring his wealth of
experience and leadership to guide that company's continued
success.
During Steve's tenure as Chair, he led Jacobs through a period
of substantial growth and transformation. Under his leadership, the
company expanded its global footprint, diversified its portfolio,
and solidified its position as a leader in sustainability and
technology-driven solutions.
Pragada joined Jacobs in 2006, becoming CEO and joining the
Board in 2023 following several successful senior leadership roles.
His appointment as Chair reflects his deep commitment to Jacobs'
mission and his vision for the company's future.
"We are excited to have Bob
Pragada step into the role of Chair," said Steve Demetriou. "His leadership and experience
have been instrumental in shaping Jacobs into the great company it
is today. I am confident Bob will continue to drive the company
forward with the same passion and dedication that has defined his
career."
"I am deeply honored and proud to be appointed Chair of Jacobs,
a company where I have spent the last 18 years of my career. I'm
looking forward to continuing to work with our Board of Directors,
our leadership team and our employees to deliver solutions for some
of the world's toughest challenges. On behalf of the entire Jacobs
team, I want to express our deepest gratitude to Steve for his
exceptional leadership and unwavering commitment to Jacobs," said
Bob Pragada. "Steve's vision and
guidance have been pivotal in positioning Jacobs as a global
leader, and we wish him all the best in his new role at
Amentum."
Jacobs remains dedicated to pushing the boundaries of innovation
and delivering world-class solutions to its clients. With
Bob Pragada at the helm as both CEO
and Chair, the company is well-positioned to continue its
trajectory of growth and excellence.
Following the successful closure of the CMS transaction, Jacobs'
current Lead Independent Director, Chris
Thompson, will move to the Amentum Board, and Louis Pinkham has been elected to serve as Lead
Independent Director. Pinkham, currently CEO of Regal Rexnord,
joined the Jacobs Board in Sept
2023.
At Jacobs, we're challenging today to reinvent tomorrow by
solving the world's most critical problems for thriving cities,
resilient environments, mission-critical outcomes, operational
advancement, scientific discovery and cutting-edge manufacturing,
turning abstract ideas into realities that transform the world for
good. With approximately $16 billion
in annual revenue and a talent force of more than 60,000, Jacobs
provides a full spectrum of professional services including
consulting, technical, scientific and project delivery for the
government and private sector. Visit jacobs.com and
connect with Jacobs on Facebook, Instagram, LinkedIn and
X.
Certain statements contained in this press release constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that do not directly relate to any
historical or current fact. When used herein, words such as
"expects," "anticipates," "believes," "seeks," "estimates,"
"plans," "intends," "future," "will," "would," "could," "can,"
"may," and similar words are intended to identify forward-looking
statements. We base these forward-looking statements on
management's current estimates and expectations, as well as
currently available competitive, financial and economic data.
Forward-looking statements, however, are inherently uncertain.
There are a variety of factors that could cause business results to
differ materially from our forward-looking statements including,
but not limited to, our plans to spin off and merge with Amentum
our Critical Missions Solutions business and a portion of our
Divergent Solutions business in a proposed transaction that is
intended to be tax-free to stockholders for U.S. federal income tax
purposes, the timing of the award of projects and funding and
potential changes to the amounts provided for under the
Infrastructure Investment and Jobs Act and other legislation
related to governmental spending, as well as general economic
conditions, including inflation and the actions taken by monetary
authorities in response to inflation, changes in interest rates and
foreign currency exchange rates, changes in capital markets, the
possibility of a recession or economic downturn, geopolitical
events and conflicts, and the impact of any future pandemic or
infectious disease outbreak, including the related reaction of
governments on global and regional market conditions, among others.
For a description of some additional factors that may occur that
could cause actual results to differ from our forward-looking
statements, see the discussions contained under Item 1 - Business;
Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 -
Management's Discussion and Analysis of Financial Condition and
Results of Operations in our most recently filed Annual Report on
Form 10-K, and Item 2 - Management's Discussion and Analysis of
Financial Condition and Results of Operations; Item 1 - Legal
Proceedings; and Item 1A - Risk Factors in our most recently filed
Quarterly Report on Form 10-Q, as well as the company's other
filings with the Securities and Exchange Commission. The company is
not under any duty to update any of the forward-looking statements
after the date of this press release to conform to actual results,
except as required by applicable law.
For press/media inquiries:
media@jacobs.com
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SOURCE Jacobs
