Sterling Construction Company Names Joseph Cutillo President
February 14 2017 - 8:45AM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling”
or “the Company”) today announced that as part of its management
development and succession planning process, the Board of Directors
has elected Joseph A. Cutillo to the position of President,
reporting to Paul Varello, Sterling’s Chief Executive Officer,
effective immediately. Mr. Cutillo had previously served as
Sterling’s Executive Vice President Chief Business Development
Officer.
Mr. Cutillo has nearly 30 years of executive management
experience and a deep understanding of emerging opportunities in
heavy civil construction, industrial, and adjacent markets. Prior
to joining Sterling in October of 2015, he was President and Chief
Executive Officer of Inland Pipe Rehabilitation LLC (IPR) from 2008
to 2015, over which time he grew the business from a start-up
acquisition to the second largest trenchless rehabilitation pipe
business in the U.S. From 2005 to 2008, Mr. Cutillo served as
Division President at CONTECH Engineered Solutions. Prior to
CONTECH, Mr. Cutillo held a series of increasingly responsible
management roles at Ingersoll-Rand (NYSE: IR) and General Electric
Corporation (NYSE: GE). He earned a Bachelor of Science degree in
Mechanical Engineering from Northeastern University.
Sterling CEO, Paul Varello commented, “Joe is an extremely
capable and experienced executive. Over the past seventeen months,
he has impressed me with his leadership style and his willingness
to tackle every assignment given him. His leadership of our
business development and strategic planning efforts has helped our
business units to win new, higher margin work and positioned our
Company for strategic growth and increased profitability in 2017
and beyond. In his new role as President, Joe will be responsible
for driving continued improvements in our operating performance,
particularly in Texas, and will lead our strategic growth
initiatives.”
Milton Scott, Chairman of Sterling’s Board of Directors, stated,
“We look forward to working with Joe in his new role as President
as we move into the next phase of our growth. We have been very
impressed by his contributions to Sterling’s improved performance
to date, and we are highly confident that with greater leadership
responsibilities, he will be even more impactful on our return to
more consistent profitability.”
Mr. Scott continued, “The Board and I would also like to thank
Paul for stepping into the CEO position in February of 2015 in
order to plan and execute the turnaround that is currently
underway. His extensive background in the engineering and
construction industry, coupled with his tireless effort and
boundless energy, saw Sterling through some significant challenges
and we are grateful for his continued commitment to our Company and
our shareholders.”
Sterling is a leading heavy civil construction company that
specializes in the building and reconstruction of transportation
and water infrastructure projects in Texas, Utah, Nevada, Colorado,
Arizona, California, Hawaii, and other states in which there are
construction opportunities. Its transportation infrastructure
projects include highways, roads, bridges, airfields, ports and
light rail. Its water infrastructure projects include water,
wastewater and storm drainage systems.
This press release includes certain statements that fall within
the definition of “forward-looking statements” under the Private
Securities Litigation Reform Act of 1995. Any such statements are
subject to risks and uncertainties, including overall economic and
market conditions, federal, state and local government funding,
competitors’ and customers’ actions, and weather conditions, which
could cause actual results to differ materially from those
anticipated, including those risks identified in the Company’s
filings with the Securities and Exchange Commission. Accordingly,
such statements should be considered in light of these risks. Any
prediction by the Company is only a statement of management’s
belief at the time the prediction is made. There can be no
assurance that any prediction once made will continue thereafter to
reflect management’s belief, and the Company does not undertake to
update publicly its predictions or to make voluntary additional
disclosures of nonpublic information, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170214005753/en/
Sterling Construction Company, Inc.Jennifer Maxwell,
Director of Investor Relations281-951-3560orInvestor Relations
Counsel:The Equity Group, Inc.Fred Buonocore, CFA
212-836-9607Kevin Towle 212-836-9620
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