Foster Wheeler Promotes Jon Nield to Vice President, Project Risk Management Group

Foster Wheeler AG (Nasdaq: FWLT) announced today that Jon Nield, 47, has been promoted to Vice President, Project Risk Management Group (PRMG), effective immediately. In this role, he will be responsible for leading the group that sets, reviews and implements the company’s risk management policy for proposal and contract operations.

A 25-year veteran of Foster Wheeler, Nield joined the PRMG in January 2011 as part of a planned leadership succession process. Prior to that, he was Project Executive on the company’s Pluto I LNG project in Australia. He also previously served as Operations Director of Foster Wheeler-United Kingdom (UK) and also led the UK Proposal Operations Group. In addition to his experience on Pluto I, he has worked on several large international projects and also had led Operations Groups in South Africa and in the Reading, England, office.

Nield earned a Bachelor’s degree in Mechanical Engineering from the University of Newcastle-upon-Tyne and a Master of Science degree in Project Management from Cranfield University’s School of Management. He is a Chartered Engineer and a Fellow of the Institute of Mechanical Engineers.

Nield succeeds David Wardlaw, 55, who elected to retire effective May 1 but will serve as a consultant to the company through the end of 2011.

"The Project Risk Management Group has played an important role in the company’s commercial success by ensuring that effective risk management practices are an integral part of our culture and are consistently applied in all of our Operating Units,” said Umberto della Sala, Interim Chief Executive Officer of Foster Wheeler AG. "The head of this group is a key member of our senior leadership team, and Jon is exceptionally well qualified to step into this role because of his extensive and varied background in Foster Wheeler operations. We expect him to make a significant contribution and to build upon the very strong track record established by Dave Wardlaw, who did a superlative job in leading this function since 2004. We thank Dave for his service to the company and wish him well in his new endeavors.”

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company’s Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

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