Business

Former CEO Stephen Bechtel Jr. has died aged 95

Stephen D. Bechtel Jr., who led his family’s engineering and construction company to become the largest country in terms of income, died at his San Francisco home on Monday at the age of 95, Bechtel Corp. announced. He was CEO of Bechtels from 1960 to 1990, overseeing the company’s growth into a global leader in the construction industry.

Under his leadership, sales at Reston, Va.-Based companies grew 11-fold, its employee population five-fold and major projects grew from 18 to 119, according to the announcement.

Born in 1925, Bechtel was the grandson of Warren A. Bechtel, who founded the company in 1898, and the son of Stephen Bechtel Sr., who ran the company from 1933 to 1960. father and grandfather during inspection visits to the Hoover Dam,according to company website.

After graduating from Purdue University, serving in the Marine Corps and earning an MBA from Stanford University, he joined the family business in 1948, growing from field engineer to CEO at age 35.

It has extended the footprint of companies across the globe and undertaken efforts of increasing technical sophistication, according to the New York Times. Some of the notable projects of the company under his leadership were:

San Francisco’s Bay Area Rapid Transit system.
The Channel Tunnel between Great Britain and France.
Several unique oil and gas platforms in the North Sea.
LNG plants in Algeria, United Arab Emirates and Indonesia.
Nuclear power plants across the United States
The industrial town of Jubail and King Khalid International Airport in Saudi Arabia.

Bechtel retired as CEO at age 65 in 1990, succeeded by his son Riley P. Bechtel, and later in 2016 by his grandson, Brendan P. Bechtel. He continued to serve on the company’s board of directors until 2018.

Beyond Bechtel

Steve Jr. has served as a director of leading companies such as General Motors, IBM, and the Southern Pacific Railroad. He has also served as Chairman of the Conference Board Inc. and the Business Council.

Active in civic affairs, he has served on six presidential commissions for three US presidents. In 1991, President George HW Bush awarded Steve. Jr. the nation’s highest honor for technological achievement, the national medal for technology and innovation. He has also held advisory positions at the California Institute of Technology, Purdue,Massachusetts Institute of Technology and Stanford Universities and the Hoover Institution.

My grandfather leaves behind a remarkable legacy of achievement, integrity, excellence and commitment to customers and communities, said Brendan Bechtel in a statement. In all aspects of his life, he was driven by his strong values and vision to help build a better world, which continue to guide us in our partnerships with clients today.

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