NEW YORK, Aug. 18, 2014 /PRNewswire/ -- Skanska AB
(NASDAQ: SKA B) named Richard
Cavallaro an executive vice president of Skanska AB and
president and chief executive officer of Skanska USA, overseeing the company's U.S.
construction operations, which had combined revenue in 2013 of
nearly $7 billion. Cavallaro, who
also will be a member of Skanska AB's Senior Executive Team (SET),
succeeds Michael McNally who is
retiring from the same role as planned at the end of the
year.
Michael Cobelli steps into
Cavallaro's role as president and chief executive officer of the
Skanska USA Civil business
unit.
Both Cavallaro and Cobelli are long-time Skanska veterans.
Cavallaro has been with Skanska since 1996 and has led the civil
business unit for the past five years doubling its revenue and
tripling its profit. Under his leadership, USA Civil expanded its geographic footprint,
shifted from a regional player to a national competitor, became a
significant force in the power and industrial space and
consistently achieved the company's best safety record.
"Rich has a deep understanding of our clients' needs; a track
record of strategic leadership; depth of knowledge; and a
straight-forward communications approach. Adding all of that
to his ability to consistently drive results makes me certain that
he will continue to strengthen our US operations," said
McNally.
As president and CEO of Skanska USA Inc., Cavallaro will be responsible for
Skanska's US construction operations including USA Building, which specializes in building
construction, and USA Civil, which
is focused on civil infrastructure. He will be one of nine
members of Skanska AB's Senior Executive Team responsible for
global operations.
McNally is retiring after 35 years in construction and six years
as Skanska's US leader. During his tenure, McNally transformed the
business into a powerful brand and it grew to become the
second largest domestic building contractor and the third
largest domestic heavy civil contractor. McNally is known for
his ability to bring people together and has been the driving force
behind One Skanska, a transformation effort begun in 2009 to foster
a collaborative culture and integrate all of Skanska's US services
and geographies.
"It is an honor to lead our tremendous team of employees and
this great company. I'm committed to building on Mike's
legacy of One Skanska and working together to innovate and deliver
for our clients," said Cavallaro. "Mike has been a
great partner and mentor. Because of his relentless focus on our
values and advocacy for safety and sustainability, we are known not
just as a successful company but a company that cares about its
people and our communities."
"It has been a privilege and a pleasure to be part of the
Skanska family – to be part of a team of smart, proud, hardworking
people who have built some of the world's most complex and
important structures," said McNally. "I feel lucky that I
could contribute to the growth of a company that has done so much
to improve the communities where we live and work and I see nothing
but potential for Skanska on the
horizon."
USA Civil Chief Operating
Officer Michael Cobelli moves into
the role of president and chief executive officer of USA Civil. Cobelli has been with Skanska for
his entire 30-year career, with a strong focus on project
execution. He has personally been involved in constructing some of
the most complex and high-profile heavy civil construction projects
in the US.
For bios of McNally, Cavallaro and Cobelli, click
here.
This and previous releases can also be found at
www.usa.skanska.com
Skanska USA is one of the
largest, most financially sound construction and development
companies in the U.S., serving a broad range of clients including
those in transportation, power, industrial, water/wastewater,
healthcare, education, sports, data centers, government, aviation
and commercial. Headquartered in New York with offices in 33 metro areas, we
have more than 9,600 employees committed to being leaders in
safety, project execution, sustainability, ethics and people
development. In 2013, our work in building construction, civil and
power/industrial construction, commercial development and
infrastructure development (public-private partnerships) generated
nearly $7 billion in revenue.
Global revenue of parent company Skanska AB, headquartered in
Stockholm and listed on the
Stockholm Stock Exchange, totaled $21
billion in 2013. Skanska shares are publically traded in the
U.S. on the OTC market under the symbol SKBSY through a Level I
American Depository Receipt program.
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SOURCE Skanska USA