NuScale Power Corporation (NYSE: SMR) shares have risen by 2.2% to $19.22 following the announcement of a leadership change. According to an SEC 8-K filing dated January 14, 2025, James T. Hackett will resign as Chairman of the Board, effective January 15, 2025. Alan L. Boeckmann, a board member since December 2020 and former CEO and Chairman of Fluor Corporation, will assume the role of Non-Executive Chairman.
The market appears to be responding positively to the continuity and experience Boeckmann brings, given his previous leadership roles and the ongoing relationship between NuScale and Fluor, its largest shareholder. Hackett's departure is part of a strategic move to avoid over-boarding, as he takes on the role of Lead Independent Director at Fluor. This transition is seen as a reinforcement of NuScale's management stability and its strategic ties with Fluor, which could bolster investor confidence.