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New CFO to join KBR in 1Q17

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LNG Industry,

KBR has released a statement claiming that Mark Sopp will join the company as Chief Financial Officer (CFO) in 1Q17. The current CFO, Brian Ferraioli, has decided to retire, but will work closely with Sopp to ensure a smooth transition.

From 2005 to 2015, Sopp served as the CFO and Executive Vice President of Leidos Holdings (previously known as SAIC) – one of the largest publicly traded government contractors in the US, and which also has technically-focused commercial professional services operations, including serving energy markets.

Prior to his work with Leidos, Sopp served in a number of executive positions at Titan Corp., also involved in government contracting and commercial business areas.

Stuart Bradie, KBR President and CEO, said: “We look forward to Mark joining KBR.

“Along with his extensive financial and capital markets expertise, Mark's long-time experience in the government contracting sector, including knowledge of the government services investment community, will be immensely helpful as KBR expands our Government Services segment to achieve better balance between our government and hydrocarbons businesses.

“The addition of KBRwyle has brought a large number of reimbursable professional services contracts to our portfolio and we are seeing continued expansion of existing government contracts and task orders for the US and UK governments. To that end, I am confident that with Mark on our team we will achieve further shareholder value and financial success going forward.

"We greatly appreciate Brian's fiscal leadership during his time at KBR. He has made many significant contributions, overseeing all the financial affairs of the company, helping strengthen our financial management and reduce our overall cost structure, and his sage advice has been a great help to me personally. We thank Brian for his service to the company and we wish him the very best in his well-deserved retirement.”

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