Jacobs Announces CFO Transition

Rhea-AI Summary

Jacobs has announced the appointment of Claudia Jaramillo as the new Chief Financial Officer, effective August 14, 2023. Jaramillo, previously the Executive Vice President of Strategy and Corporate Development, has a strong background in operational improvement and capital allocation from her 20 years at Schlumberger. She will succeed Kevin Berryman, who will transition to a Special Advisor role. Bob Pragada, Jacobs' CEO, emphasized Jaramillo's strategic capabilities and financial expertise, which align with the company's growth objectives. Jacobs reported revenues of $15 billion and over 60,000 employees, focusing on solving critical global problems.

Positive

• Appointment of Claudia Jaramillo as CFO, expected to enhance financial strategy.
• Jaramillo's extensive experience at Schlumberger includes managing $16 billion in annual revenue.

Negative

• Leadership transition may lead to temporary instability during adjustment.

News Market Reaction – J

+0.67%

1 alert

+0.67% News Effect

On the day this news was published, J gained 0.67%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Claudia Jaramillo Appointed Chief Financial Officer, Effective August 14, 2023

Kevin Berryman to Serve as Special Advisor to CEO Bob Pragada 

DALLAS, Jan. 26, 2023 /PRNewswire/ -- Jacobs (NYSE: J) today announced that Claudia Jaramillo, currently Jacobs Executive Vice President, Strategy and Corporate Development, will succeed Kevin Berryman as Executive Vice President and Chief Financial Officer, effective August 14, 2023. At that time, Berryman will serve as Special Advisor to Jacobs Chief Executive Officer, Bob Pragada.

Ms. Jaramillo has a proven track record of driving continuous operational improvement and disciplined capital allocation through complex business cycles. She joined Jacobs in July 2022 in her current role following more than 20 years with Schlumberger, the world's largest energy services company. During her tenure, Ms. Jaramillo successfully led multiple global operational finance roles, including most recently leading strategic capital deployment as head of treasury.

Jacobs CEO Bob Pragada said, "Claudia's record of leadership and operational execution ideally positions her to serve as Jacobs' next CFO and further advance our 'Boldly Moving Forward' strategy. Since joining Jacobs last year, Claudia's strategic thinking and financial acumen have already made a considerable impact. She has a deep understanding of the compelling growth opportunity across our strategic accelerators of climate response, data solutions and high value consulting and advisory, and her diverse background driving innovative solutions for multi-national companies across industrial sectors aligns with our own ambitious growth objectives. Her experience in driving cultural transformation will further enhance our continued commitment to create a diverse and inclusive company like no other that attracts and retains best in class talent."

Pragada continued, "As a key member of our executive leadership team since 2014, Kevin has been instrumental in transforming Jacobs to a higher growth, higher value technology enabled solutions provider. During his tenure, Kevin has been a proactive partner in forming and implementing our strategies and has driven strong financial performance focused on disciplined cost control, robust cash flow generation and effective capital deployment, in addition to committed leadership to our cultural transformation."

Berryman said, "Claudia is absolutely the right person to continue Jacobs' focus on delivering value to all key stakeholders and is steadfastly committed to compounding returns for our shareholders. The last eight years as Jacobs' CFO have been inspiring. I am proud of our accomplishments in propelling Jacobs' transformational journey and redefining our business portfolio and capital deployment strategy. Our success has resulted in significant, sustainable value creation for our shareholders and has established Jacobs as one of the world's most admired companies. I'm looking forward to continuing to work with Bob as Special Advisor beginning in August."

About Claudia Jaramillo

Ms. Jaramillo joined Jacobs in July 2022 as Executive Vice President, Strategy and Corporate Development.

Prior to joining Jacobs, Ms. Jaramillo spent more than 20 years at Schlumberger where she served in multiple executive roles with increasing senior leadership responsibility in finance and general management. She has worked in several high growth markets and geographies, including Europe, Asia, the Middle East and the U.S., and was the top financial executive of the largest region – responsible for overseeing $16 billion of annual revenue as the financial controller of the North America business. She also led significant organizational restructuring and transformation initiatives. Most recently, she served as Vice President Group Treasurer and Corporate Officer and had significant engagement with the Environmental, Social and Governance (ESG) function at Schlumberger. She set up sustainability-linked financing and represented the company on the United Nations Global Compact (UNGC) CFO Task Force, whose goal is to reshape the future of corporate finance and investment as a catalyst for growth, value creation and social impact.

Ms. Jaramillo serves as Chair of the Audit Committee of the Board of Generation USA and as a member of the Board of the Wharton Club of Houston. Previously, she served on the Board of Arabian Drilling ADC.

She is a graduate of Pontificia Universidad Javeriana, where she earned a Bachelor of Science in electrical and electronics engineering followed by an MBA from The Wharton School.

About Jacobs
At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With $15 billion in revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding our ability to successfully implement our corporate strategy, achieve our growth objectives and compounding financial returns, and our ability to successfully attract and retain talent by creating a diverse and inclusive company. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, the timing of the award of projects and funding under the Infrastructure Investment and Jobs Act, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession, geopolitical events and conflicts, and the impact of the COVID-19 pandemic, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

For additional information contact:
Investors
Jonathan Doros, 817-239-3457
jonathan.doros@jacobs.com

Media
Louise White, 469-724-0810
louise.white@jacobs.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/jacobs-announces-cfo-transition-301731325.html

SOURCE Jacobs

FAQ

Who has been appointed as the new CFO of Jacobs?

Claudia Jaramillo has been appointed as the new CFO of Jacobs, effective August 14, 2023.

What was Claudia Jaramillo's role before becoming CFO?

Before becoming CFO, Claudia Jaramillo served as Executive Vice President of Strategy and Corporate Development.

Who is the outgoing CFO of Jacobs?

The outgoing CFO of Jacobs is Kevin Berryman, who will become a Special Advisor to the CEO.

What are Claudia Jaramillo's qualifications?

Claudia Jaramillo has over 20 years of experience at Schlumberger, including roles in operational finance and capital deployment.

What is Jacobs' annual revenue?

Jacobs reported annual revenues of $15 billion.