Fluor Reports Retirement of 2 Key Managers
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Charles N. Cannon, 64, a Fluor Corp. vice chairman since 1984 and a director of the Irvine-based engineering and natural resources company since 1977, retired Tuesday--one of two top Fluor executives to leave on the same day. George Mefferd, 59, Fluor’s chief financial officer and a member of the board of directors, also retired. Mefferd’s retirement had been previously announced.
The retirements reduced the size of Fluor’s board to 15 members. A company spokesman said Cannon will not be replaced, and no replacement for Mefferd has been hired yet.
Cannon, who joined Fluor as an engineer in 1957, said his decision to leave the company a year early came because of the success of Fluor’s management succession plan, in which a number of younger executives have been named to top-level posts in recent years. Cannon will remain as a consultant to the company through the end of the year.
He said he will not be replaced because the need for his counsel has “diminished” as the new executive team has gained experience.
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