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Engineering company KBR names new CFO

HOUSTON (AP) -- KBR Inc. said Monday that it named Brian Ferraioli as the engineering and construction company's chief financial officer and executive vice president, effective immediately.

He is replacing Susan Carter, who resigned as KBR's chief financial officer in September to join another company.

For the past six years, Ferraioli has been chief financial officer and executive vice president at The Shaw Group, another engineering and construction company, in Baton Rouge, La.

"Brian's solid background in global engineering, construction and government services is well-suited for KBR's financial operations," KBR CEO William Utt said in a statement.

Ferraioli also currently serves on the boards of directors for engineering companies Babcock & Wilcox Co. in Charlotte, N.C., and Adolfson & Peterson Construction in Minneapolis.

The company's shares rose 1 cent to $33.76 in morning trading Monday.