Dive Brief:
- Richard Cavallaro, who runs the infrastructure construction unit of Skanska AB's American subsidiary, will become CEO and president of Skanska USA on Jan. 1, the company said.
- Cavallaro will replace Michael McNally, who has held the top job for six years and is retiring, Skanska said.
- The company noted that Cavallaro's unit, USA Civil, has doubled revenue and tripled profits in the five years he has been its boss. Cavallaro "has a deep understanding of our clients’ needs," according to McNally.
Dive Insight:
Taking over the U.S. subsidiary makes Cavallaro an executive vice president of the parent firm as well. Michael Cobelli —who has been chief operating officer of Civil under Cavallaro— will move up to be the division's top executive.