LOS ANGELES (Nov. 16, 2020) — AECOM (NYSE:ACM), the world’s premier infrastructure consulting firm, today announced Think and Act Globally, a comprehensive strategy to set the new standard of excellence in the Professional Services industry. This strategy is focused on extending the Company’s industry-leading, global expertise to each of its projects around the world, transforming the way it delivers work through technology and digital platforms, and enhancing its position as a leading Environment, Social & Governance (ESG) company.
Additionally, reflecting confidence in its business and its strategy, and its commitment to create shareholder value through its capital allocation policy, AECOM announced today that its Board of Directors has increased the authorization in its existing stock repurchase program from $305 million to $1 billion.
In tandem with the launch of its Think and Act Globally strategy, AECOM also announced the expansion of its Executive Leadership Team with the appointments of Todd Battley as Chief Strategy Officer, Shirley Adams as Chief Human Resources Officer and Sarah Urbanowicz as Chief Information Officer, each of which will be reporting directly to Troy Rudd and are effective immediately.
“Today’s announcements represent the next steps of our journey to set the new standard of excellence for the Professional Services industry,” said Troy Rudd, AECOM’s chief executive officer. “Over the past several years, our professionals have made great progress on our goal to create a higher-margin and lower-risk Professional Services business, and through this process we have identified several opportunities to extend our competitive advantages even further and take better advantage of our strengths. As part of our pursuit of this vision, I am excited to welcome Todd, Shirley and Sarah to our Executive Leadership Team, who I am confident will be tremendous leaders for our organization. The future for AECOM is bright and I am excited to see what we can accomplish when we come together unified under one goal of transforming our industry.”
Key Elements of AECOM’s Think and Act Globally Strategy
- Change the Way We Operate: Following the announcement on October 5th of the integration of its design businesses into one global organization, AECOM is taking steps to simplify its operating structure to define clearer lines of accountability and ensure it brings the best global thinking and innovation to bear on every project.
- Extend Client Relationships: With industry-leading franchises and the premier technical experts in the industry, the Company is focusing its teams on fully leveraging these strengths to gain market share, grow in adjacent markets and build durable, long-term relationships with its clients, particularly in its top 9 geographies that represent more than 90% of its profitability.
- Transform How We Work: Through its Workplace of the Future initiative, the Company is designing more flexible ways of working that better leverage its investments in technology and cloud computing platforms and further optimize its overhead costs through a further reduced real estate footprint. The Company is also advancing initiatives to enable the digital delivery of its work by establishing best practices and governance protocols for the digital re-use of core elements of the design process.
- Lead in ESG: The Company is focused on enhancing its position as a leading ESG company as demonstrated by its Science-Based Targets initiative (SBTi) approved emissions reductions targets, the launch of its Thrive with AECOM initiative to advance its commitment to Equity, Diversity and Inclusion (ED&I), and industry-leading knowledge-based services that are ideally positioned to advise clients who are increasingly investing in their own ambitious ESG goals.
About AECOM
AECOM (NYSE:ACM) is the world’s premier infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.2 billion in fiscal year 2020. See how we deliver what others can only imagine at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; high leverage and potential inability to service our debt and guarantees; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the Management Services transaction, including the risk that the expected benefits of the Management Services transaction or any contingent purchase price will not be realized within the expected time frame, in full or at all; the risk that costs of restructuring transactions and other costs incurred in connection with the Management Services transaction will exceed our estimates or otherwise adversely affect our business or operations; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
Investor Contact:
Will Gabrielski
Senior Vice President, Investor Relations
213.593.8208
William.Gabrielski@aecom.com
Media Contact:
Brendan Ranson-Walsh
Vice President, Global Communications & Corporate Responsibility
213.996.2367
Brendan.Ranson-Walsh@aecom.com