KBR Chairman, President and CEO William Utt will retire from his positions next year.

The Houston-based engineering, construction and services company said Monday that KBR Inc.'s board has created a search committee to help find Utt's successor.

The company said Utt will remain in his current role until a new CEO is named.

Utt said in a statement that after more than eight years at KBR, he is looking forward to spending more time with his family and pursuing other personal and professional opportunities.

KBR has approximately 27,000 employees in over 70 countries on five continents.