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Foster Wheeler appoints Ferraioli controller

HAMILTON, Bermuda, Nov 4, 2002 — Foster Wheeler Ltd. recently announced the appointment of Brian K. Ferraioli as vice president and controller of the company worldwide.

He will report to Joseph T. Doyle, senior vice president and chief financial officer, and will continue to be based at the company’s Clinton, New Jersey office.

Ferraioli, 47, has been with Foster Wheeler for 23 years. Prior to this appointment, he was vice president and chief financial officer of Foster Wheeler USA and Foster Wheeler Power Systems, respectively, and vice president of project finance at Foster Wheeler International, Reading, UK. In addition to serving in various corporate finance roles, Ferraioli was also CFO of Foster Wheeler Iberia, Madrid, as well as assistant controller of Foster Wheeler Italiana, Milan.

“We believe Brian is particularly well-suited to assume this new assignment,” said Doyle. “We look forward to benefiting from his global experience, as well as from his knowledge of the company, its finances, and financial reporting systems in general.”

Ferraioli is a Certified Public Accountant, and holds an M.B.A. from Columbia University, as well as a bachelor’s degree in accounting from Seton Hall University.

Ferraioli succeeds Thomas J. Mazza, who has been appointed to another leadership position within the company’s financial organization.