By Dean Seal

Government contractor KBR is renaming one of its two business segments and tapping its chief executive for board chair amid a broader restructuring.

The Houston company said Tuesday that its Government Solutions unit has been renamed Mission Technology Solutions, or MTS, and that the segment's international business has been eliminated, with elements of the business integrated across MTS and its Sustainable Technology Solutions segment.

The change is part of the company's push to streamline operations and reduce complexity, KBR said.

CEO Stuart Bradie has also been appointed chair-elect following the next annual shareholder meeting in May.

He will take over for retired four-star Air Force Gen. Lester Lyles, who notified the board last month of his decision to retire when the company's next shareholder meeting concluded.

Bradie will ascend the board at the same time that Byron Bright, its president of government solutions in the U.S., steps into the newly created role of chief operating officer.

Lyles' decision to retire and Bright's appointment were both disclosed in December, hours before The Wall Street Journal reported that Irenic Capital Management had built a stake in the company and planned to push for a separation of its private sector business.

KBR shares rose 5.2% to $60.80 in after hours trading.

Write to Dean Seal at dean.seal@wsj.com

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Government contractor KBR has tapped its chief executive to be the next board chair.

The Houston company said Tuesday that CEO Stuart Bradie has been appointed chair elect following the next annual shareholder meeting in May.

He will take over for retired four-star Air Force Gen. Lester Lyles, who notified the board last month of his decision to retire when the company's next shareholder meeting concluded.

Bradie will ascend the board at the same time that Byron Bright, its president of government solutions in the U.S., steps into the newly created role of chief operating officer.

The executive appointments are part of the company's push to streamline operations and reduce complexity, Bradie said in a statement.

Lyles' decision to retire and Bright's appointment were both disclosed in December, hours before The Wall Street Journal reported that Irenic Capital Management had built a stake in the company and planned to push for a separation of its private sector business.

(END) Dow Jones Newswires

January 07, 2025 17:34 ET (22:34 GMT)

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