Halliburton Names William Utt as Head of KBR Unit

Bloomberg.com: U.S.

Halliburton Names William Utt as Head of KBR Unit (Update1)

Feb. 20 (Bloomberg) -- Halliburton Co., the world's largest oil-services company, named William P. Utt as president and chief executive officer of its KBR engineering and construction unit, ahead of KBR's initial public offering.

Utt's appointment is effective April 3, Houston-based Halliburton said in a statement today. Utt, 48, has been president and CEO of Suez Energy North America since 2000 and held the same positions at Tractebel SA's North American energy business between 1995 and 2000, Halliburton said. Utt has more than 20 years of experience in the energy industry.

The role of president and CEO at KBR had been eliminated in December 2004 when KBR began reporting directly to Halliburton. Halliburton CEO David Lesar plans an initial public offering of stock in KBR as soon as the second quarter.

In October, Halliburton hired Cedric Burgher to serve as KBR's chief financial officer while it studied an IPO. Burgher, a former Halliburton treasurer, was CFO of Burger King Corp.

KBR consists of two units, an engineering and construction business with clients mostly in the energy industry and a government-services business that provides support such as meals, housing, laundry and transportation to the U.S. military in Iraq and elsewhere. KBR, which employs more than 60,000 in 43 countries, is the biggest U.S. government contractor in Iraq.

Halliburton shares fell $1.14, or 1.6 percent, to $70.10 in New York Stock Exchange composite trading Feb. 17. U.S. markets are closed today because of the President's Day holiday.