via Bechtel Mr. Bechtel. [6][5] Dudley had been appointed CEO in late 2013, when Riley Bechtel stepped down as CEO four years earlier than planned, after being diagnosed with Parkinson's disease. [6] Since then, Brendan Bechtel has held the dual titles of chairman and CEO. Because of both its size and the crucial nature of the infrastructure it builds, this year Bechtel ranks No. Bechtel is also the quintessential family business: It has been led, with a brief exception, by a succession of four family CEOs since cattle farmer Warren Bechtel founded the firm in 1898 to help build railroad lines. 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. Since 1898, we've completed more than 25,000 extraordinary projects across 160 countries on all seven continents. Piece by piece, Mneefah is helping lay the backbone for the largest urban mass transit system ever built from scratch. manager structure. Our people are our assets. We dont have to please Wall Street by increasing sales every quarter, he says confidently. Brendan, along with his family ties, has a MBA and masters of. The Fort Bend facility will be the first. Bechtel: "The time to act is now. He is currently single. CEO: Brendan Bechtel (possible) email: bbechtel@bechtel.com. 10:05 AM But that building boom is largely on hold until oil prices rise again. Suddenly, his carefully planned career march turned into a sprint. After stumbling in the early 2000s by diversifying into tech investments and owning power plants, Bechtel refocused its traditional pillars: oil and gas, government projects, mining and minerals, and giant infrastructure jobs, such as the more than $10 billion Riyadh Metro, and the Crossrail suburban mass transit system in London. [7], Brendan is the son of Riley P. Bechtel and the eldest of three children. The tunnel-boring machine, or TBM, is longer than a Boeing 747 and weighs five times as much. 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. The company, which has a long history in the kingdom, is currently part of a consortium building two lines of the Riyadh Metro and is working on the futuristic Neom project. The government reimburses all of Bechtels costs of about $4 billion and pays a fee of as much as 3%, or a maximum of around $120 million. That view of Bechtel was given new currency this year by the publication in March of The Profiteers, a Bechtel expos by veteran investigative reporter Sally Denton. Infrastructure, and its state of disrepair in America, is among the business areas targeted by the younger Bechtel. Darren Bechtel, Samantha Duvall, Lyn Bechtel and Brendan Bechtel attend ENCORE! The average employee at Bechtel Corporation makes $77,276 per year. The notion that we can influence that process instead of operating on a level playing field is wrong. Brendan has been training for the top job for a number of years. 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. For decades, Bechtel hasnt responded to such attacks. According to both Bechtel and its client, the Riyadh Development Authority, the metro isnt endangered by looming budget cuts in the kingdom. 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. All Rights Reserved. [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. Suddenly, his carefully planned career march turned into a sprint. Lucia and Chuck Cassidy. Brendan Bechtel advanced to president and COO in August of 2014. He stepped down as CEO in 2014 after being diagnosed with Parkinson's disease. The tunnel-boring machine, or TBM, is longer than a, At $10.1 billion, the Riyadh job is the biggest lump-sum civil engineering project ever awarded to a single team, and its being done for a fixed price. The result is a rare inside look at the intense but highly lucrative partnership culture that drives the company. The real owners identity is locked up real tight behind the LLC, which links back to a prestigious San Francisco law firm known for representing high net worth individuals and families, naturally. At least in todays fiercely competitive market for global contractors, Bechtel must win on competence, not contacts. Its hardly a surprise that a Bechtel family member is moving back into the chief executive job. Meet The 36-Year-Old Chairman and CEO of Bechtel, Brendan Bechtel In this month's issue of GineersNow: Construction Leaders, we're excited to feature Bechtel Corporation, one of the largest construction & engineering company in the world. [8][10], Starting in 2010, Brendan followed a career path within the Bechtel Group designed by the board of directors to test his abilities as a potential future CEO,[8] taking on increasing responsibility in field construction, project management, and executive leadership. The family-owned shares, for example, carry no special voting rights. [8] It was the first time in 30 years that senior executives at Bechtel Group had agreed to in-depth media interviews. In an increasingly competitive environment, the company needs to be able to attract the best engineers and managers to thrive. 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. 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. Brendan Bechtel Chairman and CEO at Bechtel Corporation Reston, Virginia, United States 41K followers 26 connections Join to follow Bechtel Corporation Stanford University Company Website. Hence, hes investing in developing a new generation of relatively small reactors that, if successful, will be far more economical than the mega-plants of the past, that require multiple billions in investments, and many years to win approval. BRENDAN BECHTEL, CHAIRMAN & CEO OF BECHTEL, ON THE URGENCY OF MODERNIZING AMERICA'S INFRASTRUCTURE. American Global's 9th Annual Soccer Tournament Raises $12,000 for YMCA Youth Soccer P, Ellison Construction Announces New Executive Appointments, Discovery Education and Social Impact Partners Offer K-12 Teachers and Families Nationwide Dig, Atlanta Startup Raises $4.2 Million to Revolutionize the Way Companies Find, Hire, and Pay Ski, By signing up to receive our newsletter, you agree to our, took over the reins of the company on Sept. 1, Buy America provisions can improve construction lead times for a price, CHIPS Act funding to open as US plans semiconductor manufacturing clusters. Regan Detweiler and Brandon Bechtel's Wedding Website - The Knot Regan & Brandon Home This is us. It is the largest construction company in the United States, and operates worldwide. In 2010 he embarked on a series of jobs at Bechtel designed to test his mettle as a potential CEO. [20] When taking time off, he enjoys skiing and fishing in California and the Rocky Mountains.[10]. 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. Thats nearly $30 million in cash for three non-contiguous properties. It also runs Saudi Arabia's National Programme . But the Brendan Bechtel era at the company is beginning earlier than expected because of unforeseen circumstances. Topics covered: virtual design and construction, material and product innovations, productivity improvements through technological advancements, and more. According to Forbes, Mr. Bechtel currently makes do with a net worth of $3.4 billion. All employees must retire at the end of the year after their 65th birthday and, upon leaving, sell their shares back. Gala: Bella Notte on January 19th 2012 in San Francisco, CA Mining spiked from 2009 to 2013, for instance, almost matching oil and gas as Bechtels largest division. For size and complexity, this is the biggest civil engineering job weve ever done, says Amjad Bangash, the Bechtel SVP whos overseeing the project. It is getting started on two additional trains for Cheniere in Corpus Christi. Despite (or maybe because of) their vast net worth they are one of Americas wealthiest families, after all the Bechtels remain steadfastly discreet and shun publicity like the average person shuns public speaking. TABUK: NEOM the company behind Saudi Arabia's $500 billion . Bechtel has long been a magnet for controversy. Alex Murdaugh, a former South Carolina attorney accused of murdering his wife and son, is set to make his closing argument in a murder trial Wednesday afternoon. Construction Dive broke down several trends in labor, technology and infrastructure, while testing the hardiness of specific sectors in 2023. According to our Database, He has no children. 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. To resolve lawsuits filed by the city, Bechtel and its joint venture partner paid a settlement of $458 million. And the company has developed the first liquefied natural gas (LNG) export terminal in the continental United States. 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 Bechtel has been working as a Chairman & Chief Executive Officer at Bechtel for 26 years. [8] At the age of three, he lived with his family in a trailer at a Bechtel construction site in Borneo. 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