Patrick Fragman was CEO since 2019 and there had been little indication that he was planning on leaving
Patrick Fragman is stepping down as chief executive of Westinghouse Electric Company, a multibillion dollar, privately-held, global nuclear services business controlled by Canada ’s Cameco Corp.on Thursday said that Mr. Fragman is leaving Westinghouse at the end of March to spend more time with his family. Former operating plant services president Dan Sumner is taking on the role of deputy CEO. After Mr. Fragman leaves, Mr. Sumner will then take over as interim CEO.
Westinghouse has been involved in the nuclear sector for 75 years as a provider of nuclear reactor technology, design, engineering services, and parts. Cameco, as part of its earnings in November, provided some basic financial metrics for Westinghouse. For the first nine months of 2024, Westinghouse reported revenue of $4.18-billion and a net loss of $463.8-million.Cameco is one of the world’s biggest uranium mining companies with major mines in Saskatchewan supplying the nuclear fuel to power plants worldwide.
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