The companys largest single business today is building plants that chill natural gas into a dense liquid thats then loaded on tankers for China, Japan, and Spain. [8] In October 2016, he was named in Fortune magazine's annual "40 Under 40" list. Unveils New Vision Statement and Logo. He was Bechtel's president and chief operating officer from 2014-2016. Its all about a companys ability to deliver a job on schedule and on budget, at the lowest cost. Farah and Jesus Bueno. Anyway, we thought it might be a fun treat to take a real quick look at a portion of Mr. Bechtels substantial real estate holdings and see what we can see. Cheniere Energy, Inc. Investors Randy Bhatia, 713-375-5479 Frances Smith, 713-375-5753 Media Relations Eben Burnham-Snyder, 713-375-5764 Five years earlier it secured a similar role at the Los Alamos and Lawrence Livermore nuclear weapons and national security labs. We dont have to please Wall Street by increasing sales every quarter, he says confidently. A graduate of Middlebury College in Vermont, Bechtel also earned an MBA and a master's degree in construction engineering and management from Stanford University. In 2011, the same entity paid $16,000,000 for another Montecito mansion, and then in 2015 it bought a third for $6,845,000. Contacts. Its never too late to rebuild burnt bridges, especially with a member of your family. But that building boom is largely on hold until oil prices rise again. Suddenly, his carefully planned career march turned into a sprint. The consortium headed by Bechtelits partners are contractors CCC of Greece and Almabani of Saudi Arabia, as well as, 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. Here Are The Republicans Who Want Him Kicked Out, Rupert Murdoch Must Tell Fox News Hosts To Stop Spreading Election Lies, Congressional Democrats Demand, The 10 Best Movies Added To Netflix In March 2023, Frontier Airlines Becomes More Family Friendly With Seating Policy, A Psychologist Offers Advice On How To Repair A Family Rift, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Bechtel is one of the world's most respected global engineering, construction, and project management organizations. (His brother, Darren Bechtel, is a venture capitalist in San Francisco, and his sister, Katherine Bechtel, works as a cost and schedule planner for Bechtel.) Despite (or maybe because of) their vast net worth they are one of Americas wealthiest families, after all the Bechtels remain steadfastly discreet and shun publicity like the average person shuns public speaking. Bechtel says the plant is safe and attributes the delays and extra spending to numerous design changes mandated by the government to tighten safety standards. After graduating from Middlebury College with a major in geography in 2003, he spent a couple of years working for the Conservation Fund, a nonprofit that helps fund land and water conservation projects. If monitoring reveals evidence of possible criminal activity, the results of such monitoring . Bechtel has built landmarks from the Hoover Dam to the Channel Tunnel to a post-meltdown confinement shelter for the Chernobyl nuclear power plant. At least in todays fiercely competitive market for global contractors, Bechtel must win on competence, not contacts. Get Brendan Bechtel's email address (b*****@bechtel.com) and phone number (202-215-..) at RocketReach. 1981. As for the way the company is described in The Profiteers, he says he doesnt recognize the Bechtel portrayed in the book. Terms & Conditions. 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. Since 1898, we've completed more than 25,000 extraordinary projects across 160 countries on all seven continents. Nuclear weapons work: The Lawrence Livermore (LLNL) and Los Alamos National Laboratories (LANL) are jointly managed by BWX Technologies, University of California, Bechtel and URS Corporation (since October 2014 part of Aecom) Other work: The ultra-private wee estate is set far back down a private driveway and located just a few doors away from the Oprah Winfreys 60+ acre Promised Land estate. Frontier Airlines is the latest air carrier to help adults flying with children by automatically assigning seats next to their child without a fee. Those businesses run the gamut from tepid to fast growing. Brendan has been training for the top job for a number of years. Dudley, 64, is scheduled to retire no later than the end of 2017 and could step down sooner. All rights reserved. Jad Donohoe and Michelle Gallinger. Center for Strategic and International Studies, "Brendan Bechtel, Chief Executive Officer", "Meet the private company that is changing the face of the world: A rare inside look at family-controlled global construction giant Bechtel", "One of the Largest Private Companies in the U.S. Just Named a 35-Year-old CEO", "Brendan becomes fifth generation Bechtel to take company chair", "Bechtel brings it meet the new private company goliath in town", "Bechtel to move to Reston after more than a century in San Francisco, bringing 150 jobs", "This Firm Beat Bechtel as No. Brendan Bechtel 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. 12% of Bechtel Corporation employees are Black or African American. NEOM will be home to an economy and society oriented to the future with a technologically advanced, sustainable infrastructure powered by 100% renewable energy to support truly liveable cities. We dont want people in mining to suffer because of a big downturn and folks in oil and gas to make more because the market is great, he says. Brendan Bechtel is chairman and chief executive officer of Bechtel Group, Inc. (Bechtel). The Bechtel Company is a privately owned (giant) construction firm operating worldwide and headquartered in San Francisco and is a mainstay of the nuclear industry. His career path was orchestrated by the boards senior management and development committee, or Smecdec. Its five members include Riley Bechtel and his father, 91-year-old Steve Bechtel Jr., as well as a group of heavyweight outside directors: David OReilly, a former CEO of Chevron (CVX); Nick Moore, a former chairman of PwC; and Leigh Clifford, a former CEO of Anglo-Australian mining giant Rio Tinto. 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. Post navigation 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. LSM is a mid-sized international design practice and consultancy, headquartered in . We have far more skin in the game than outside directors at public companies, says former PwC chief Moore. manager structure. Elizabeth and Octavio Delosobera. 10:05 AM All rights reserved. In 2016, the house was put up for sale with a $7,950,000 asking price. BUILDING THE ENERGY FUTURE The competition for each slice of the pie is getting fiercer. His career path was orchestrated by the boards senior management and development committee, or Smecdec. Its five members include Riley Bechtel and his father, 91-year-old Steve Bechtel Jr., as well as a group of heavyweight outside directors: David OReilly, a former CEO of, Bechtels biggest business, oil and gas. He also asked lawmakers to invest in "smart" infrastructure that can respond to changing environmental conditions in real time. Bechtel's chairman and CEO, Brendan Bechtel, was among roughly 200 corporate leaders who signed a highly touted 19 August statement from the Business Roundtable on corporate social. The result is a rare inside look at the intense but highly lucrative partnership culture that drives the company. That view of Bechtel was given new currency this year by the publication in March of The Profiteers, a Bechtel expos by veteran investigative reporter Sally Denton. He was also a director of companies including IBM and General Motors In 1946, he married Elizabeth Mead Hogan. [8][10], Starting in 2010, Brendan followed a career path within the Bechtel Group designed by the board of directors to test his abilities as a potential future CEO,[8] taking on increasing responsibility in field construction, project management, and executive leadership. View the profiles of people named Brendan Bechtel. 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. But the Brendan Bechtel era at the company is beginning earlier than expected because of unforeseen circumstances. All Rights Reserved. Then theres the lucrative business of facilities management. The ultra-private wee estate is set far back down a private driveway and located just a few doors away from the Oprah Winfrey's 60+ acre Promised Land estate. 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. 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. All Rights Reserved. Construction Dive broke down several trends in labor, technology and infrastructure, while testing the hardiness of specific sectors in 2023. Claire and Jake Farver. Early life [ edit] He is the great-grandson of Warren A. Bechtel, the company's founder. (Other contractors are building additional metro lines, but Bechtel is doing the most difficult work in Riyadhs center and using four of the seven TBMs assigned to the project.). But Brendan Bechtel decided that the family company was his future and went back to school to get an MBA and a masters in engineering at Stanford. In fact, his brother, Brendan, who was named CEO in 2016, represents the fifth generation of Bechtels to lead the company. In 2011, Mr. Bechtel substantially upgraded his Montecito residential circumstances with the $16,000,000 purchase of a 12,000-square-foot mansion further up in the hills. (Their sister, Katherine, is a project controls manager with the . Bechtel is also the quintessential family business: It has been led, with a brief exception, by a succession of four family CEOs since cattle farmer Warren Bechtel founded the firm in 1898 to help build railroad lines. (Bechtel discloses its annual sales and bookings but not other financials.) Since 2000, Bechtel has been building a plant in Hanford, Wash., to treat radioactive waste from the Manhattan Project and the Cold War. The board followed its succession plan by naming Dudley, then president, to replace Riley Bechtel, who remains chairman. Brendan Bechtel is chairman and chief executive officer of Bechtel, a trusted engineering, construction and project management partner to industry and government. A fifth-generation member of the family, Brendan Bechtel, now serves as President and Chief Operating Officer. For 18 months, Bechtelwho arrived a month after his wedding and lived part-time in a sprawling workers campkept the gigantic project on time and on budget. But the Bechtel family enjoys one important privilege: While nonfamily partners must sell their shares back on retirement, Bechtel family members may leave their shares to family trusts. Bechtel's projects create jobs, grow economies, improve the . Terms & Conditions. In late 2013 his father, Riley Bechtel, who had served for 24 years as CEO, retired four years early at 61 after being diagnosed with Parkinsons disease. Topics covered: labor shortage, recruiting & retaining workers, OSHA & Department of Labor rulings, safety protocols, and more. That amounts to about $5 millionand some years a lot morefor each nonfamily-member partner. [6], When the company announced that it was moving its headquarters from San Francisco to Reston, Virginia, at the end of 2018, The Washington Post noted that Brendan Bechtel was already based in the Reston office, with 1,300 employees. Bechtel retired from that position in 1995. Bechtel and Sabanci Renewables Inc. partner to grow U.S. solar market Cutlass Solar Two to save 600,000 metric tons of CO2 emissions per year FORT BEND, Texas, Dec. 8, 2022 /PRNewswire/ -- Bechtel has been selected to build a 272 MWdc solar facility for Sabanci Renewables, Inc. in Fort Bend County, Texas. Unlike them, we wont lose dumb. His company, he asserts, will stay patient and plan long term. FORTUNE may receive compensation for some links to products and services on this website. [11] In an interview that year with the Washington Business Journal, he stated that he had no interest in taking the company public, preferring instead to retain more control and focus on profitability without the pressure to achieve "growth for growth's sake". Were basically a service business, he says. Meet the Private Company that Is Changing the Face of the World, Video: This Is What Bechtel Is Planning for the Future, This Is What Keeps Bechtels Next CEO Up at Night, LinkedIn has officially entered its cringe era, and its working. Apple TV+ could be making a bid to live stream Pac-12 sports replacing ESPN & Fox. [8] He currently lives in the Washington, D.C. area with his wife, "a third-generation Washingtonian", and their children, [10] and was inducted into the exclusive Alfalfa Club as a new "sprout" in 2017. At the four facilities, Bechtel oversees about 16,000 employees who run IT, procurement, human relations, and all other management services. In 2013 he sought to rebuild Cheniere by transforming Sabine Pass into an export facility that could supply utilities in Europe. See the full leadership team at Craft. At the same time, Chinese contractors that operate on an entirely new modelexporting thousands of their own low-cost workers to foreign job sites, for exampleare starting to compete in the markets where Bechtel is strongest. 2023 Forbes Media LLC. As Brendan told Fortune, hes also an unabashed believer in nuclear energy. 559 likes. Brendan, along with his family ties, has a MBA and masters of engineering from Stanford University. [1] He has served as a trustee of the National Geographical Society and the Center for Strategic and International Studies for several years. A mounting threat to Bechtel and other global builders is coming from the Chinese. The 35-year-old Bechtel is navigating the 118-year-old company, which generated revenues of $40 billion in 2015,through financial and competitive challenges as well as planning for a future that includes nuclear energy, smart infrastructure and low-carbon building strategies, according to Fortune. 1 on Fortune magazine's annual list of the top 40 business "disrupters" under the age of 40. Heres a short list of its signature projects: the Hoover Dam (completed in 1936), the Trans-Arabian Pipeline (1950), the Bay Area Rapid Transit system (1976), NASAs Space Launch Complex 40 (1992), the Channel Tunnel (1994), and the Athens Metro (2004), not to mention Jubail in Saudi Arabia, where Bechtel has been overseeing the construction of one of the worlds largest industrial cities for over 40 years. Bechtel's top 16 competitors are Fluor, Kiewit, Turner, AECOM, Jacobs, SNC-Lavalin, McDermott, KBR, Skanska , EMCOR, Stantec, Worley, Wood, Powerkam China, Obayashi and WSP. Inflation, a potential recession, supply chain struggles and sky-high labor demands are pushing up against optimism from infrastructure spending, growth in specific sectors and tech advancement. [14], More recently, he joined the board of two regional business groups, including the Federal City Council and The Economic Club of Washington, D.C.[10], A strong supporter of nuclear energy, Brendan Bechtel has stated that he believes it is the only long term alternative to fossil fuels. Infrastructure, and its state of disrepair in America, is among the business areas targeted by the younger Bechtel. Father of Riley Stephen Bechtel Jr. was born as Stephen Davison Bechtel Jr. on 10th May 1925 in Oakland, California. It grinds through the Arabian Desert sandstone 24/7, chewing through the pink-hued rock with its tungsten blades to sculpt a circle 33.6 feet in diameter. Since then its tankedalong with prices for copper, alu, A mounting threat to Bechtel and other global builders is coming from the Chinese. Piece by piece, Mneefah is helping lay the backbone for the largest urban mass transit system ever built from scratch. Over the past few years, the value proposition has been time to market, he says. But with growth at home slowing, theyre moving aggressively into new markets. Even with those strengths, the companys continued success is far from assured. He wants its workforce of 55,400 people to feel pride in their employer. 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. Bechtel has been involved in delivering projects and job creation across Australia for 60 years. 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