AECOM launches its Think and Act Globally strategy and increases Board repurchase authorization to $1 billion
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.
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.
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