DeFeo also engineered the planned merger with Finland-based industrial equipment firm Konecranes that is set to create a $10-billion global leader in lifting, material handling and port equipment. Garrison will be CEO of the enlarged firm when the deal closes, expected by mid-year 2016.
After two months as CEO of Jacobs Engineering, Steven Demetriou has reorganized its C-suite, elevating four executive vice presidents to presidents of global market sectors—to drive growth and “a culture of greater accountability,” the firm said on Oct. 8. J. Gary Mandelnow heads the petroleum and chemicals business unit; Phillip J. Stassi is buildings and infrastructure unit leader; Terence D. Hagenleads aerospace and technology,, which includes nuclear; and Andrew F. Kremer heads the industrial group, to include mining & metals, inorganic chemicals, pulp & paper and manufacturing. Within that group, Jacobs also named Robert G. Norfleet as senior vice president of a newly-created life sciences global business unit. In a filing, the firm also reported that the reshuffling includes the planned departure at year end of Executive Vice President Santo Rizzuto, the former CEO of Australian engineer Sinclair Knight Merz that was acquired in 2013. InAugust, Jacobs reported third-quarter earnings of $91.1 million, up 40% from the year-earlier period, but revenue fell to $2.9 billion from $3.2 billion.