KBR rises after co to spin-off mission technology solutions unit

Government contractor KBR's shares KBR.N rise 2.4% to $49 premarket

Co to pursue tax-free spin-off of its mission technology solutions (MTS) segment, which caters to military and other government agencies

CFO Mark Sopp to transition into a newly created role to oversee the team responsible for spinning off MTS

Sopp will be succeeded by Shad Evans, the current senior vice president of financial operations.

Last year, WSJ reported activist investor Irenic plans to push KBR to separate its segment that serves the private sector after building stake in co

As of last close, stock had fallen 17.42% YTD