Sterling Construction Announces a Director Retirement
December 06 2017 - 4:05PM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling”
or “the Company”) today announced that Paul Varello will retire
from the Board of Directors effective December 31, 2017.
Mr. Varello has been a member of Sterling’s Board since 2014. He
served as the Chairman of the Board from December 2014 to February
2015 and as the Company’s Chief Executive Officer from February
2015 to April 2017.
“It’s been my great pleasure working with Paul since I joined
the Company in late 2015,” stated Joe Cutillo, Sterling
Construction’s Chief Executive Officer. “Paul was instrumental in
turning the Company in the right direction and building a team to
take it to the next level. His strategic mindset and vast
experience in engineering and construction helped us achieve the
consistent profitability we are now generating and laid the
foundation for continued strong performance. Paul’s boundless
energy and relentless work ethic will be greatly missed by the
entire company.”
Milton Scott, Chairman of Sterling’s Board of Directors, added,
“On behalf of the entire Board I’d like to thank Paul for the major
contributions he has made to our company. His leadership in the CEO
position and on the Board were invaluable to Sterling’s turnaround
over the past several years and we will all miss him both
professionally and personally. We wish Paul well in this next phase
of his career.”
Sterling is a leading heavy civil construction company that
specializes in the building and reconstruction of transportation
infrastructure, water infrastructure, and residential and
commercial concrete projects in Texas, Utah, Nevada, Colorado,
Arizona, California, Hawaii and other states in which there are
construction opportunities. Its heavy civil construction projects
include highways, roads, bridges, airfields, ports, light rail,
water, wastewater and storm drainage systems and multi-family
homes, commercial projects and parking structures. Its residential
concrete projects include concrete foundations for single-family
homes.
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/20171206006229/en/
Sterling Construction Company, Inc.Jennifer Maxwell,
281-951-3560Director of Investor RelationsorInvestor Relations
Counsel:The Equity Group Inc.Fred Buonocore, CFA,
212-836-9607orKevin Towle, 212-836-9620
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