Jacobs Names COO Bob Pragada As Next CEO, Steve Demetriou To Step Down

(RTTNews) - Jacobs Engineering Group Inc. (J) Thursday announced that Bob Pragada, currently President and Chief Operating Officer, will succeed Steve Demetriou as Chief Executive Officer and join the Company's Board of Directors.

Demetriou will continue as Executive Chair of the Board. The changes are effective January 24, 2023.

"It has been the highlight of my career to lead Jacobs over these past seven years and work with our outstanding people to transform Jacobs' portfolio, advance our culture and position the Company for even higher levels of growth and success. With a strong foundation and clear trajectory in place, now is the right time to implement our succession plan," said Demetriou.

"During Bob Pragada's 16 years with Jacobs, including the last several years as President and COO, he has demonstrated leadership excellence and a strong track record of execution. His passion for innovation and teamwork are evident in our many achievements. The Board and I are confident that Bob is the right person to serve as Jacobs' next CEO and continue to accelerate our momentum."