The board of directors of Black & Veatch has selected a new chairman, president and CEO for the company upon the decision of Len Rodman to retire at the end of 2013 after 42 years of outstanding leadership, service and dedication to the company.
Rodman will continue in his leadership role through the remainder of 2013 while guiding a transition period for Steve Edwards, who will succeed Rodman. Edwards becomes only the seventh senior leader in the founder, managing partner or chairman role in Black & Veatch's 98-year history.
Rodman, as the sitting chairman, president and CEO announced to the Black & Veatch board of directors his pending retirement, and worked with the compensation and development committee to provide a slate of internal candidates for them to select the replacement and create a formal transition period for 2013. During the remainder of 2013, Edwards becomes chief operating officer of Black & Veatch until he assumes management of the company in January 2014.
An executive vice president currently serving as executive director Global EPC for Black & Veatch's global energy business, Edwards joined the company in 1978. In his current role he maintained profit and loss responsibility for expanded scope, or engineering, procurement and construction (EPC) efforts, and recently led the company's Indonesia growth platform strategy.
Rodman said he has been instrumental in the leadership of the company's project execution and enhanced expanded scope services strategy development and he has been actively involved in the implementation of the company's India and GCC growth plans, key elements of the company's long-term strategy.
Rodman said his decision to retire was based on his desire for the new chairman to be in place at the beginning of the year and to have the benefit of a formal transition period. Additionally, Rodman said the timing also will allow new leadership to be in place at the end of the company's current world headquarters renovation and for Black & Veatch's upcoming centennial celebration in 2015.
Rodman was named president and CEO of Black & Veatch in August 1998 and was elected to the additional position of chairman of the board in January 2000. During his tenure as chairman, president and CEO, he has led several major initiatives.
The first was the conversion from an 85-year-old partnership to a privately held C Corp with an un-leveraged ESOP. This transition increased the equity in the company and set in motion a process for employee ownership. Parallel with this transition, Rodman led the formation of a corporate transformation that included a complete change in the company's internal governance model. Black & Veatch now has a board of directors — chaired by Rodman — that has eight non-executive, independent directors and six executive directors.