William “Bill” Utt plans to retire from KBR (NYSE:KBR) as chairman, president and CEO in 2014.
KBR’s board of directors has formed a special committee and hired executive search firm Russell Reynolds Associates to help identify the company’s next CEO, KBR said Nov. 7.
“Under his leadership, KBR has built a strong foundation for growth and navigated many unique challenges of our industry, ” said Loren Carroll, a lead director at KBR.
Utt said he is leaving the company after more than eight years to pursue other professional and personal interests.