Foster Wheeler Promotes Troy Roder to Lead U.K. Unit

ZUG, Switzerland—(BUSINESS WIRE)—Sep. 11, 2009—Foster Wheeler AG announced today that, effective January 1, 2010, W. Troy Roder, 43, has been promoted to the position of Chairman and Chief Executive Officer of Foster Wheeler Energy Ltd. (FWEL), which is based in Reading, England, and is the company’s largest subsidiary in its Global Engineering and Construction (E&C) Group. Roder is currently President and Chief Executive Officer of Foster Wheeler USA (FWUSA) Corporation, based in Houston, Texas. In assuming his new position at FWEL, Roder replaces Michael Beaumont, 60, who has announced his intention to retire as Chairman and CEO of FWEL.

Roder is currently attending the Advanced Management Program at Harvard University. Following his completion of the program in November, he will return to the Houston office to assist in the leadership transition there before assuming his new role in Reading. Roder’s successor at FWUSA is expected to be named shortly.

Foster Wheeler’s President and Chief Operating Officer Umberto della Sala said, “Troy’s performance at FWUSA has been nothing short of exceptional. As leader of FWUSA, he was responsible for a more than five-fold increase in capacity and EBITDA from 2004 through 2008. He solidified and expanded Foster Wheeler’s global leadership position in delayed coking and, more recently, has successfully broadened the scope of FWUSA’s served markets and has been leading the integration of two U.S.-based acquisitions. He has also been extremely successful in cultivating strong and productive relationships with clients around the world. We are fortunate to have an executive of this caliber step into the leadership role at our largest E&C operating company.”

Roder joined Foster Wheeler in 1989 and subsequently assumed positions of increasing responsibility in E&C, working on chemical, petrochemical, oil and gas, refinery and power projects, in supervisory, management and engineering roles. In 1997, he joined the Houston office of FWUSA and was named President and CEO there in 2004. Roder holds a bachelor’s degree in civil engineering from Purdue University and an MBA from DePaul University.

In commenting on the retirement of Michael Beaumont, della Sala said, “Widely regarded as a pillar of our Reading organization, Mike joined the company in 1973 as a civil engineer and held a succession of increasingly responsible positions in management, engineering and commercial operations. He assumed his present role in January 2008. Mike will work closely with Troy to ensure a seamless transition and I know that clients and employees will join me in thanking him for his devoted service and in wishing him all the best in his retirement.”

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs over 14,000 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, 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 are in Clinton, New Jersey, USA. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.