AECOM`s first president and CEO was Richard G. Newman, who came to Ashland through the acquisition of Daniel, Mann, Johnson & Mendenhall (DMJM). Under the ownership of Ashland Oil, he was President and Chief Operating Officer of DMJM from October 1985 to December 1988. As President of Ashland Technology Corp. from December 1988 to May 1990, Newman was instrumental in transforming a division of Ashland Oil into an independent company. He was president when the company changed its name to AECOM Technology Corporation in April 1990. Newman served as President until 1993, then Chairman, President and Chief Executive Officer from May 1993 to October 2000 and President and Chief Executive Officer from 2000 to 2005.  About AECOMAECOM (NYSE: ACM) is the world`s trusted infrastructure consulting firm that provides professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. For projects in the fields of transport, buildings, water, new energies and the environment, our clients in the public and private sectors trust us to solve their most complex challenges. Our teams are driven by a shared goal of creating a better world through our unparalleled 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 company and its professional services business generated revenue of $13.3 billion in fiscal 2021.
Find out how we are delivering a lasting legacy for generations to come, aecom.com and @AECOM. AECOM dates back to the Kentucky-based Ashland Oil & Refining Company, which in turn emerged from the Swiss Drilling Company, founded in 1910 by J. Fred Miles in Oklahoma. He took control of about 200,000 acres and founded the Swiss Oil Company in Lexington. In 1924, Miles launched a refinery called the Ashland Refining Company, run by Paul Blazer. As the parent company struggled, leading to the expulsion of miles, Ashland prospered under Blazer`s leadership and was appointed president and CEO of the reorganized Ashland Oil & Refining Company in 1936. In 1966, Ashland acquired Warren Brothers and participated in the construction of highways and building materials. The company was able to use the refinery`s by-products to produce asphalt.
Ashland became one of the largest road construction companies in the country and laid the foundation for AECOM. Through a series of acquisitions and technological developments, Ashland became a chemical, petrochemical, road and building materials company in its field and laid the groundwork for a management takeover of Ashland Technology in 1985.  In 2011, Stephen M. Kadenacy was appointed Chief Financial Officer and then promoted to President and Chief Operating Officer.  In 2017, Kadenacy left the company and was replaced by Randy Wotring as COO.  In the 1970s, Ashland Oil & Refining became Ashland Oil, Inc. Five years later, the company consolidated its construction assets into a construction division and also created a coal subsidiary, indicating a shift in direction at Ashland. Although Ashland generated more than $1 billion in revenue a year, it was a small player in the oil industry at a time when the cost of exploration was prohibitive. Ashland sold its production facilities in 1980 and was reorganized a year later into a modified holding company.
A new corporate strategy was implemented as Ashland now focused on refining and marketing and sought to expand its non-refinery business. In 1984, Ashland acquired Daniel, Mann, Johnson & Mendenhall (DMJM), a global provider of transportation-related engineering services. Initially focused on military projects, it had become one of the first integrated engineering and architectural firms in the western United States after World War II. The acquisition of DMJM also included its president, Richard G. Newman. In 1985, DMJM became part of a new subsidiary, Ashland Technology Corporation. Two years later, Newman was appointed as the new CEO and President.  Forward-Looking StatementsAll statements contained in this press release, other than statements of historical fact, are „forward-looking statements” within the meaning of federal and state securities laws, including all statements regarding plans, strategies and objectives for future operations, profitability, strategic value creation, the impact of the coronavirus, the risk profile and investment strategies, as well as statements about future economic conditions or performance. and AECOM`s expected financial and operating results. Although we believe that the expectations expressed in our forward-looking statements are reasonable, actual results may differ materially from those projected or assumed in our forward-looking statements.