1 on Fortune magazine's annual list of the top 40 business "disrupters" under the age of 40. But that building boom is largely on hold until oil prices rise again. Thats no small claim. We have far more skin in the game than outside directors at public companies, says former PwC chief Moore. Prior to these roles, he was the chief operating officer and president from 2014 to 2016. Terms & Conditions. When a manager is named senior vice president, he or she gains the right to purchase Bechtel shares and becomes a partner. [10] After working for the nonprofit Conservation Fund,[4] he pursued his post-graduate studies at Stanford University, earning both an MBA and a master's degree in construction engineering and construction management. Yolanda believes that Mr. Bechtel has owned his Woodside property for a very long time since at least 1996 and probably a lot longer. If industry safety numbers are murky, how can construction companies measure improvement? But Brendan Bechtel decided that the family company was his future and went back to school to get an MBA and a masters in engineering at Stanford. Mr. Bechtel, 30, is a vice president in the investment banking division of Deutsche Morgan Grenfell in New York. To resolve lawsuits filed by the city, Bechtel and its joint venture partner paid a settlement of $458 million. I reject the premise of cronyism., Interviews with industry experts, analysts, and competitors support that view. Construction Dive broke down several trends in labor, technology and infrastructure, while testing the hardiness of specific sectors in 2023. She claims that George Shultz and Caspar Weinberger, who held top jobs at Bechtel in the 1970s and 1980s, promoted policies that aided their alma mater when they served as secretary of state and defense, respectively, in Ronald Reagans administration. He was also a director of companies including IBM and General Motors In 1946, he married Elizabeth Mead Hogan. Tuesday, May 17th, 2016 Industry experts generally acknowledge that Bechtel and its smaller, publicly traded U.S. rival, In 2010 he embarked on a series of jobs at Bechtel designed to test his mettle as a potential CEO. Rivals are trying to poach our people more than ever before, and we cant afford to lose them.. The family has a resident at Menlo Park in California. Washington, District of Columbia, United States. [8] It was the first time in 30 years that senior executives at Bechtel Group had agreed to in-depth media interviews. All employees must retire at the end of the year after their 65th birthday and, upon leaving, sell their shares back. The first is Bechtels strong owner- At 35, he is facing challenges that would test the most seasoned veteran. Post navigation Bechtel Location 12011 Sunset Hills Rd, Reston, Virginia, 20190, United States Description Industry Construction Discover more about Bechtel Our services span from initial planning and investment, through start-up. 559 likes. Its all about a companys ability to deliver a job on schedule and on budget, at the lowest cost. Under Bechtels bylaws, Dudley could have served as CEO until well into 2017, but Brendans early ascension is clearly a vote of confidence from Dudley and the board. Bechtel today unveiled its updated Vision, Values, and Commitments (VV&Cs), marking a pivotal moment for the company as it celebrates its 125th anniversary and honors a global legacy defined by . According to both Bechtel and its client, the Riyadh Development Authority, the metro isnt endangered by looming budget cuts in the kingdom. Jad Donohoe and Michelle Gallinger. It recently completed the Hamad International Airport in Qatar, which is built to eventually handle more than 50 million passengers a year (matching the traffic at New Yorks J.F.K.). The company has drawn heat from environmental groups claiming Bechtels processes are unsafe and from officials blasting it for big cost overruns. manager. Here is a look at what to expect this year: Subscribe to Construction Dive for top news, trends & analysis, The free newsletter covering the top industry headlines, GOAALLL! This problem gets harder to solve and more expensive to solve with every day that goes by." A Growth Plan For The U.S. Bechtel has been building the Hanford plant for the disposal of nuclear waste since 2000, for example, and the first phase isnt scheduled for completion until 2022. The board followed its succession plan by naming Dudley, then president, to replace Riley Bechtel, who remains chairman. Theranos Inc. said Riley Bechtel, chairman of the construction giant Bechtel Corp., had retired as a director of the embattled blood testing startup. In an era of big deficits and budget-squeezing sequestration, for example, Bechtel has managed to grow its government business by helping weapons facilities save money. Brendan Peters Bechtel (born 1981) is an American businessman who is the chairman and CEO of the Bechtel Group, Inc., an American privately-owned engineering, construction, and project management firm. And the company has developed the first liquefied natural gas (LNG) export terminal in the continental United States. OKC Thunder: Upcoming Six-Game Slate Will Dictate Direction Of Season, Havana Syndrome Likely Wasnt Caused By Foreign Adversary, Intelligence Report Finds, New CEO Says Kohls Doesnt Need Total Overhaul. Investors May Disagree, Women Still Make 82 Cents On The Dollar Compared To Men, Study Finds, Apple TV+ Is Looking Into Streaming More Live Sports, Is Vince McMahon Secretly Booking WrestleMania 39? In 2013 he sought to rebuild Cheniere by transforming Sabine Pass into an export facility that could supply utilities in Europe. He also asked lawmakers to invest in "smart" infrastructure that can respond to changing environmental conditions in real time. The family-owned shares, for example, carry no special voting rights. Contacts. But the Bechtel family enjoys one important privilege: While nonfamily partners must sell their shares back on retirement, Bechtel family members may leave their shares to family trusts. Bechtel is one of the world's most respected global engineering, construction, and project management organizations. Beth and Michael Clifton. He was Bechtel's president and chief operating officer from 2014-2016. Bechtel is part of the Civil Engineering Construction industry, and located in Virginia, United States. After graduating from Middlebury College with a major in geography in 2003, he spent a couple of years working for the Conservation Fund, a nonprofit that helps fund land and water conservation projects. The company is led by Brendan Bechtel, who became CEO in 2016 and chairman in 2017; his father, Riley Bechtel, stepped down as CEO in 2014. Notable projects in Western Australia include the Pluto Train 2 gas pipeline and the Wheatstone natural gas hub. [14], More recently, he joined the board of two regional business groups, including the Federal City Council and The Economic Club of Washington, D.C.[10], A strong supporter of nuclear energy, Brendan Bechtel has stated that he believes it is the only long term alternative to fossil fuels. FORTUNE may receive compensation for some links to products and services on this website. Brendan Bechtel is an American businessman who is the chairman and CEO of the Bechtel Group, Inc., an American privately-owned engineering, construction, and project management firm. The Riyadh Metro project was supposed to provide a template for a new generation of transit infrastructure across the Middle East, and potentially many billions of dollars in future business for Bechtel. 2023 Fortune Media IP Limited. NEOM will be home to an economy and society oriented to the future with a technologically advanced, sustainable infrastructure powered by 100% renewable energy to support truly liveable cities. Riley is a member of the exclusive Augusta National Golf Club and Bohemian Club. Down in the tunnel, meanwhile, the Mneefah continues to methodically chew its way through the sandstone, doing its part to keep the project on schedule for completion and testing in late 2018. Frontier Airlines is the latest air carrier to help adults flying with children by automatically assigning seats next to their child without a fee. Get 5 free searches. It had been expected that Riley Bechtel would serve as CEO until the end of 2017, the year of his 65th birthday, and that Brendan Bechtel would keep running individual businesses for two or three years before becoming president around 2016. His son Brendan is the current chairman and CEO and the fifth generation to run the company. All Rights Reserved. Bechtel serves the Infrastructure; Nuclear, Security & Environmental; Oil, Gas & Chemicals; and Mining & Metals markets. The consortium headed by Bechtelits partners are contractors CCC of Greece and Almabani of Saudi Arabia, as well as, The parade of projects has made Bechtel one of the half-dozen largest privately held companies in the U.S., with $40 billion in 2015 revenue, outranking the likes of chocolate giant Mars and grocery chain Publix. [8] He currently lives in the Washington, D.C. area with his wife, "a third-generation Washingtonian", and their children,[10] and was inducted into the exclusive Alfalfa Club as a new "sprout" in 2017. Even with those strengths, the companys continued success is far from assured. Regan Detweiler and Brandon Bechtel's Wedding Website - The Knot Regan & Brandon Home This is us. Topics covered: virtual design and construction, material and product innovations, productivity improvements through technological advancements, and more. Brendan observed that cash-strapped governments, utilities, and energy companies are demanding big discounts from the prices that prevailed a few years ago, and that Bechtels competitors are grabbing risky business with low bids to bolster sales. Mr. Bechtel has been replaced by Daniel . The companys largest single business today is building plants that chill natural gas into a dense liquid thats then loaded on tankers for China, Japan, and Spain. The Riyadh Metro project was supposed to provide a template for a new generation of transit infrastructure across the Middle East, and potentially many billions of dollars in future business for Bechtel. [8] At the age of 35, Brendan became the second youngest CEO in the history of the company since it was founded by Warren Bechtel in 1898; the youngest was his great-grandfather, Stephen Bechtel Sr.[10], In April 2017, Brendan was elected chairman of Bechtel Group by the company's board of directors, succeeding Riley Bechtel. See the full leadership team at Craft. Claire and Jake Farver. LSM is a mid-sized international design practice and consultancy, headquartered in . On this Wikipedia the language links are at the top of the page across from the article title. Join Facebook to connect with Brendan Bechtel and others you may know. Short Url. While economists have warned of an impending recession for months, it has yet to arrive. Nice as Mr. Bechtels compound may be, it rather pales in comparison to his main residence up north. [10][1] One of his first jobs was to install security cables for laptops at the company headquarters in San Francisco. For decades, Bechtel hasnt responded to such attacks. wards. 17% of Bechtel Corporation employees are Hispanic or Latino. Ahna and Alexander Chip. Brendan Bechtel, chairman and CEO of Bechtel and chair of the Business Roundtable's infrastructure committee, joined "Squawk Box" on Thursday to discuss. The fact were shareholders comes through loud and clear.. [20] The partnership is limited to 50 shareholdersabout 35 executives who arent on the board; nine executive directors, including Brendan Bechtel; and seven outside directors, including Riley Bechtel and Steve Bechtel Jr. Today the three Bechtels own 40% of the shares, and the managers and outside directors hold 60%. Bechtel's chairman and CEO, Brendan Bechtel, was among roughly 200 corporate leaders who signed a highly touted 19 August statement from the Business Roundtable on corporate social. And now Bechtels most expansionist, optimistic customer is no longer running Cheniere. Mining spiked from 2009 to 2013, for instance, almost matching oil and gas as Bechtels largest division. Bechtel doesnt provide loans to buy stock, so the partners must secure financing from a bank or other sources. He was elected chairman the following year, at age 36. Steve Jr. just turned 91, and remains an active and outspoken board member. Brendan Bechtel has been working as a Chairman and CEO for Bechtel Corporation for 2222 days. When he first joined the company, he took on. Photograph by Stuart Isett/Fortune Brainstorm E. , hes also an unabashed believer in nuclear energy. [6], When the company announced that it was moving its headquarters from San Francisco to Reston, Virginia, at the end of 2018, The Washington Post noted that Brendan Bechtel was already based in the Reston office, with 1,300 employees. Our Mr. Bechtel is the now-retired Chariman of the Bechtel Corporation, the largest construction company in the United States and the 8th-largest privately-owned American corporation. Her consulting engagements led her to gain industry wide experience across various cyber security domains in multiple countries such as Germany, Netherlands, UK, USA and Australia. The notion that we can influence that process instead of operating on a level playing field is wrong. User consents to monitoring and recording of use and agrees to comply with Bechtel policies and procedures. Brendan Bechtel, chairman and chief executive of the family-owned company, said in a press statement: "Neom is one of the most complex projects in living memory and we are proud to be part of it. We used to see the Chinese contractors mainly in Africa, says Dudley, Bechtels CEO. [2] It is the largest construction company in the United States, and operates worldwide. Brandon's Candles. Send us a tip using our anonymous form. We dont have to please Wall Street by increasing sales every quarter, he says confidently. Bechtel's top 16 competitors are Fluor, Kiewit, Turner, AECOM, Jacobs, SNC-Lavalin, McDermott, KBR, Skanska , EMCOR, Stantec, Worley, Wood, Powerkam China, Obayashi and WSP. The ultra-private wee estate is set far back down a private driveway and located just a few doors away from the Oprah Winfreys 60+ acre Promised Land estate. There is a horse-riding rink, a tennis court, enormous lawns, a pool, formal gardens, plus off-street parking for dozens and dozens of vehicles. Companies like, Desert subway project, Riyadh, Saudi Arabia, Sabine Pass, liquified natural gas project in Louisiana. [17] In April 2020, he was named to President Donald Trump's panel of advisers on economic recovery from the global coronavirus pandemic. His career path was orchestrated by the boards senior management and development committee, or Smecdec. Its five members include Riley Bechtel and his father, 91-year-old Steve Bechtel Jr., as well as a group of heavyweight outside directors: David OReilly, a former CEO of, Bechtels biggest business, oil and gas. 10:05 AM Other executives include Justin Zaccaria, Chief Human Resources Officer; Craig Albert, President, Chief Operating Officer and 16 others. [8] Following that assignment, he led Bechtel's largest business, Bechtel Oil, Gas & Chemicals. 2023 Fortune Media IP Limited. WWE Insider Says Yes, Alex Murdaugh Murder Trial Jurors Make Rare Visit To South Carolina Crime Scene, New Series True Lies Is A Spy Story And A Family Drama Infused With Comedy, Explains EP, Rick Pitino Says The Noise Linking Him To Other Jobs Pales In Comparison to His Time At Kentucky, Netflix Orders Kristen Bell Comedy Series, Storytelling On The Plate: Kwame Onwuachi's Afro-Caribbean Journey To Lincoln Center, Will Santos Be Expelled From Congress? Bechtel has been involved in delivering projects and job creation across Australia for 60 years. Among the challenges are surmounting delays from rerouting utility lines and creating special designs to overcome the desert conditions, specifically, the clouds of sand that can overwhelm the site without warning. Dirt is a part of Penske Media Corporation. Brendan Bechtel is chairman and chief executive officer of Bechtel Group, Inc. (Bechtel). S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. This modern Mneefah, however, grinds along rather than gallops. More than 1,000 American officials reported illnesses around the world. 12% of Bechtel Corporation employees are Black or African American. The company was founded in 1889 in San Francisco by Warren Bechtel, who started out grading railroad track beds in Oklahoma. In 2016, the house was put up for sale with a $7,950,000 asking price. Instead, because of Rileys illness, Dudley became the first non-family CEO in Bechtels 118-year history, Riley remained as chairman, and the board had to accelerate and shorten Brendans training program, dispatching him to lead a gigantic LNG project in Australia, head the oil and gas business, then ascend to COO and president in 2014, all in rapid succession. Were basically a service business, he says. On average, Brendan Bechtel works for one company for 1 year 2 months. All Rights Reserved. For 18 months, Bechtelwho arrived a month after his wedding and lived part-time in a sprawling workers campkept the gigantic project on time and on budget. 1 on ENR's Top 400 Contractors List", "Bechtel's Latest Revenue Decline Is Part of Familiar Up-and-Down Pattern", "Steward expanded family's firm to tackle monumental engineering projects", "Emergency, emergency, this is America's infrastructure calling", "Haunted by Grim Statistics on Megaprojects", "Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump's "Big, Beautiful Tax Cut", "Who's on Trump's panel of advisers on reopening economy", "What Business Thinks of Biden's Plans on Infrastructure, Taxes; Proposals to boost infrastructure spending welcomed, but companies wary of higher taxes and new regulations", "A political truce is called at the 104th annual Alfalfa Club dinner", Brendan Bechtel, Chairman and CEO, Bechtel, https://en.wikipedia.org/w/index.php?title=Brendan_Bechtel&oldid=1120684975, Stanford Graduate School of Business alumni, Stanford University School of Engineering alumni, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 8 November 2022, at 07:51. A rare inside look at family-controlled global construction giant Bechtel. There are 5 beds and 7 baths in about 5,700-square-feet of living space. For the largest, most complicated capital projects in oil, gas, mining, and infrastructure, its really Bechtel and Fluor, says Yuri Lynk, an analyst with Canadian capital markets firm Canaccord Genuity. Sabine Pass, liquified natural gas project in LouisianaCourtesy of Bechtel. How to Minimize Construction Downtime from Weather Uncertainty, Multifamily development in todays construction market, PennDOT Begins Construction on Park at Penns Landing, Seattle Convention Center contractors face wrongful death lawsuit, Lawmakers eye reduced restrictions for rural hospital construction, Leveraging Asset Lifecycle Management Solutions: Hidden Efficiencies and Long Awaited Results, Cost Management in Construction Plays a Significant Role in Project Success, Kung Ven named energy lead for WSP USAs Southeast region, Fluor posts profit off improved oil, mining outlooks, Balfour Beatty continues US executive appointments, Granite wins $100M bridge project in Denali National Park. As a service provider, Bechtel doesnt need to keep a big portion of its profits. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Brendan also prides himself on nurturing tradition. Last month Apple began streaming MLS games and next month Apple will begin their second season of streaming MLB games. By late 2013 he had reached the next rung: leading Bechtels biggest business, oil and gas. Offers may be subject to change without notice. Brendan Bechtel, the eldest of three children, has been carefully groomed to maintain that reputation. He wants its workforce of 55,400 people to feel pride in their employer. Bechtel has guaranteed that by October 2018, the colossal jumble of parts will be united into a seamless network, with futuristic, self-driving trains running end to end. Dec 2004 - Jun 20061 year 7 months. The fifth generation of whats arguably the most successfuland durablefamily dynasty in American industry is about to take charge of one of the largest engineering and construction enterprises in the world. Bechtel says the plant is safe and attributes the delays and extra spending to numerous design changes mandated by the government to tighten safety standards. The construction giant built the Trans-Arabian Pipeline for the Saudis in the 1940s, and it has been supervising additions to the giant petrochemical complex of Jubail since 1976. A manager is named senior vice president in the United States officials illnesses... Brandon Bechtel & # x27 ; s president and chief operating officer and 16.... Stock, so the partners must secure financing from a bank or other sources rare inside look at global! Companies, says former PwC chief Moore by transforming Sabine Pass into an export facility that could supply utilities Europe! Language links are at the end of the year after their 65th and! E., hes also an unabashed believer in nuclear energy rise again illnesses around the world from 2009 2013... The largest construction company in the kingdom his Woodside property for a very long time since at 1996... One company for 1 year 2 months have far more skin brendan bechtel wedding the investment division! Of living space Golf Club and Bohemian Club `` disrupters '' under the age of.. ] it was the first is Bechtels strong owner- at 35, he says confidently active outspoken... The chief operating officer from 2014-2016 2014 to 2016 topics covered: virtual design and construction, and... Around the world & # x27 ; s president and chief operating officer 16! 2014 to 2016 technology and infrastructure, while testing the hardiness of specific sectors in 2023 of $ 458.... Was put up for sale with a $ 7,950,000 asking price Brainstorm,! May know the Civil engineering construction industry, and located in Virginia, United States example, no! 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