Foster Wheeler AG has announced that its Board of Directors has approved management’s proposal to relocate the company’s operating headquarters from Perryville, New Jersey to Geneva, Switzerland. The company will continue to remain domiciled in Zug, Switzerland. This decision is effective immediately, the transition has already begun, and the affected executives will begin operating from Switzerland in January 2010. The key executive positions that will relocate to Geneva include Chief Executive Officer; Executive Vice President, Chief Financial Officer and Treasurer; General Counsel; Executive Vice President of Human Resources; Vice President, Tax; Vice President and Chief Corporate Compliance Officer; and Vice President, Corporate Development. The President and Chief Operating Officer and the Vice President, Project Risk Management will continue to operate from their current locations in Europe.
