Bechtel has had no better customer than Saudi Arabia. 2023 Fortune Media IP Limited. Were basically a service business, he says. 40. Bechtel, the $21.8 billion (revenues) engineering and construction business based in Virginia, has been family run for five generations. Operating out of offices in some 35 countries, Bechtel has completed . Dudley, 64, is scheduled to retire no later than the end of 2017 and could step down sooner. Lehman Smith McLeish. Located in Telford, PA, our candle showroom will be open to the public beginning May 4th! Mining spiked from 2009 to 2013, for instance, almost matching oil and gas as Bechtels largest division. 559 likes. Ashley and Brendan Burke. Attired in a blue blazer and open-collared shirt, blond and stocky, he comes across as an earnest listener and conservative strategist. The company traces its beginning to 1898 when Brendan's great-great grandfather, Warren Bechtel, began constructing railroads in the Oklahoma Territory with a team of mules. Way back in 2007, EV Marvista LLC paid $6,300,000 for an East Coast-style rambler in one of Montecitos best pockets. Brendan is based in the Washington, DC area. Then theres the lucrative business of facilities management. Since 1898, Bechtel has helped customers complete more than 25,000 projects in 160 countries on all seven continents. In December, Souki told Fortune that Cheniere planned a fleet of 13 to 15 trains across both locations at a total cost of about $25 billion. The company has drawn heat from environmental groups claiming Bechtels processes are unsafe and from officials blasting it for big cost overruns. 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. Icahn has signaled that Cheniere should substantially shrink its plans for expansion. He became CEO in 2016 and chairman & CEO in 2017. Join Facebook to connect with Brendan Bechtel and others you may know. Weve been asked to maintain the same pace, and that means funding must. The consortium headed by Bechtelits partners are contractors CCC of Greece and Almabani of Saudi Arabia, as well as Siemens of Germany, which is supplying the trainsis shouldering all the financial risk. Piece by piece, Mneefah is helping lay the backbone for the largest urban mass transit system ever built from scratch. Following a four-game losing streak, the Oklahoma City Thunder have slid in the standings and are now 28-33. Because of both its size and the crucial nature of the infrastructure it builds, this year Bechtel ranks No. He became CEO in 2016 and chairman & CEO in 2017. Father of Riley Stephen Bechtel Jr. was born as Stephen Davison Bechtel Jr. on 10th May 1925 in Oakland, California. Hence, Riley was slated to remain in the top job until the end of 2017, while the board moved Brendan through a series of increasingly demanding jobs as part of a long apprenticeship. Bechtel: "The time to act is now. [6], From 2012 to 2013, he oversaw the construction of a $10 billion liquefied natural gas plant on Curtis Island in Queensland, Australia, living part-time in a workers' camp. 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. Brendan Peters Bechtel (born 1981) is an American businessman who is the chairman and CEO of the Bechtel Group, Inc.,[1] the second largest construction company in the United States,[2] which has operations in 160 countries. P3s often see the private sector step up and provide financing for the construction of public buildings and new infrastructure, relieving pressure on governmental entities and allowing them to spread their limited funds among a larger number of projects. Were also seeing fewer new-build projects and lots of competitors bidding for them. 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. Regan Detweiler and Brandon Bechtel's Wedding Website - The Knot Regan & Brandon Home This is us. Its all about a companys ability to deliver a job on schedule and on budget, at the lowest cost. [2] [3] As of July 2021, his estimated net worth is US$2.7 billion. 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. Brandon's Candles. Bechtel's Chief Executive Officer is Brendan Bechtel. 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. Oil-rich states in the Middle East that had planned gigantic new transit systems are putting projects on hold. Jad Donohoe and Michelle Gallinger. A full career at Bechtel can bring rich rewards. [8] From 2014 to 2016, he served as president and chief operating officer. Both he and the company needed to know if he could succeed at difficult assignments, says Riley Bechtel. Thats a $200k loss for our boy, not counting taxes and fees and all that. [18][3], In 2021, he was vocal in opposing President Joe Biden's proposed corporate tax hikes to pay for new public infrastructure. Inspired by the nearly 30-year-old film, the series features a husband and wife spy team who find themselves in high-stakes situations, while having to deal with family issues at home. One time-honored strategy that Bechtel uses to keep its people happy: money. He is not dating anyone. At least in todays fiercely competitive market for global contractors, Bechtel must win on competence, not contacts. We wont be adding more LNG plants at $4 billion a pop, he says. Bechtel is booking $4 billion a year in revenues from a relatively new venture: helping the U.S. government run departments more efficiently. After four generations of family leadership, we knew that at one point we could be without a family successor, and we were prepared for that.. [10][1] He is also on the board of advisers for the Fremont Group, the private investment office for the Bechtel family,[1] which invests in real estate and venture capital. [19], Brendan Bechtel married one month before leaving for Australia to work on the Queensland Curtis LNG project in early 2012. Rocketreach finds email, phone & social media for 450M+ professionals. All employees must retire at the end of the year after their 65th birthday and, upon leaving, sell their shares back. [8] Following that assignment, he led Bechtel's largest business, Bechtel Oil, Gas & Chemicals. He received a law degree from Stanford University. That amounts to about $5 millionand some years a lot morefor each nonfamily-member partner. 1981. Over the past few years, the value proposition has been time to market, he says. And the contracts lock in long-term sales. In a decent year, it would pay around $400 million in dividends to its shareholders. 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. 7 on, Now a new generation is poised to take chargeat an absolutely pivotal moment, when the global construction industry is undergoing sudden, wrenching change. Bechtel has long been a magnet for controversy. Private ownership and the patience that it allows, he emphasizes repeatedly, is a major competitive advantage in such an environment. [7], Brendan is the son of Riley P. Bechtel and the eldest of three children. The family-owned shares, for example, carry no special voting rights. Bechtel, meanwhile, is finding growth in some surprising niches. Contacts. 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. The Bechtel board had to radically revise its succession plans in early 2014, when Riley Bechtel, Brendans father and a long-serving, 4th generation CEO, was diagnosed with Parkinsons disease. 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. 2023 Forbes Media LLC. [20] When taking time off, he enjoys skiing and fishing in California and the Rocky Mountains.[10]. By the start of 2018, and probably sooner, Warren. [10] Before that, he had worked on other Bechtel projects, including the San Onofre Nuclear Generating Station in California. Its all about a companys ability to deliver a job on schedule and on budget, at the lowest cost. Together they have raised over 9.1B between their estimated 532.1K employees. Lucia and Chuck Cassidy. Cheniere Energys campaign to build Sabine Pass is the ultimate in roller-coaster rides. 2023 Dirt.com, LLC. 17% of Bechtel Corporation employees are Hispanic or Latino. In 2015, Mr. Bechtel apparently decided 4.54 acres was not nearly enough space. 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. And its LNG contracts account for more than half the revenue of its biggest division: oil and gas. [10], Before taking over as CEO, Brendan was featured in Fortune magazine, as part of an effort to rebuild the company's image and recruit talent. Thats no small claim. But with growth at home slowing, theyre moving aggressively into new markets. CAIRO - 11 February 2020: The Egyptian Petrochemicals Holding Company (ECHEM) signed a cooperation agreement with the American company, Bechtel Group, with an investment cost of $6.7 billion, the Ministry of Petroleum announced Tuesday. But theyre trying to become more and more like we are and competing on sophisticated projects in the Middle East.. 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. On September 1, Brendan Bechtel, 35, will become CEO of Bechtel, succeeding Bill Dudley, who will stay on as vice chairman. Meanwhile, Bechtel is doing a brisk business in the U.S. building the gas-fired power plants that are rapidly replacing costly coal-burning dinosaurs. Since then, Bill Dudley, a 35-year veteran of Bechtel, has been CEO. Darren Bechtel, Samantha Duvall, Lyn Bechtel and Brendan Bechtel attend ENCORE! All Rights Reserved. Brendan Bechtel has been working as a Chairman & Chief Executive Officer at Bechtel for 26 years. More than 1,000 American officials reported illnesses around the world. Vince McMahons slow, but steady, rise from the ashes seems to be continuing this WrestleMania season. In 2013 he sought to rebuild Cheniere by transforming Sabine Pass into an export facility that could supply utilities in Europe. [9], In 2020, the company experienced what Bechtel called "the toughest year in our company's history" and was overtaken by Turner Construction as the No. The massive device has been given the name Mneefah, for the legendary stallion that carried the kingdoms first ruler to victory. Hell need to prove once again that family management is still the best for Bechtel, and seldom have the challenges been greater. Gala: Bella Notte on January 19th 2012 in San Francisco, CA On September 1, Brendan Bechtel, 35, will become CEO of Bechtel, succeeding Bill Dudley, who will stay on as vice chairman. Theranos Inc. said Riley Bechtel, chairman of the construction giant Bechtel Corp., had retired as a director of the embattled blood testing startup. Terms & Conditions. 1 on Fortune magazine's annual list of the top 40 business "disrupters" under the age of 40. Brendan, along with his family ties, has a MBA and masters of. 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