Jacobs Engineering Group Inc. (JEC) announced at its Annual Shareholders Meeting today that Noel G. Watson will retire from the board effective today. Noel joined Jacobs more than 50 years ago becoming President in 1987, CEO in 1992, and CEO and Chairman of the Board in 2006. He stepped down as Chairman of the Board in July 2016, while remaining as a Director when Jacobs’ current CEO, Steve Demetriou, was appointed Chairman of the Board.
During his tenure as CEO, Noel led Jacobs through a period of tremendous growth, resulting in both revenue and operating profit increases of greater than 15 percent per year. To accomplish those results, Noel inculcated the values that are the core of Jacobs today, namely, a commitment to safety, a dedication to high quality customer relationships, a strong ethical underpinning and a focus on accountability.
“Noel’s inspirational management style and his extraordinary commitment to the company serve as a clear role model to me and all of our leaders at Jacobs,” said Demetriou. “Noel deserves enormous credit for driving industry leading growth and the success of Jacobs throughout his long and distinguished tenure with the company.”
“As CEO, Noel was a tough and beloved leader. As Chair, he engaged actively with his Board, enjoyed spirited discussions and always focused on what was best for Jacobs,” said Lead Director Linda Fayne Levinson. “On behalf of the board, we thank Noel, for his leadership and business acumen. He will be missed.”