On October 1st, Teri McClure (B-) joined the board of the Fluor Corporation (FLR). She serves on the audit and governance committees.
McClure has served the United States Postal Service for 25 years, in positions including General Counsel, Chief Human Resources Officer, and Senior Vice President. A Missouri native, McClure has degrees in economics and law from Washington University St. Louis and Emory. In addition to Fluor, Mcclure has been a member of the boards of GMS, JetBlue, and Lennar; her TSR at said companies are 25%, -28%, and 9%.
The board voted to expand, so McClure didn’t replace any current director.
A notable aspect of McClure’s appointment is the diversity she brings to the board. Gender diversity is brought up to 23% from 17%, and even more importantly McClure is the first African-American on the board. Fluor has had a difficult 2020, with share prices declining 46% YTD due to COVID-inspired demand slumps. Shareholders will hope McClure’s unique background and expertise can help guide Fluor out of its slump.
Note: Letter grades represent proprietary Boardroom Alpha ratings that assess the individual’s track record as a director or officer across their career.