Corporate News
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McDermott requests $105M of executive, staff bonuses
The energy contractor, which filed Chapter 11 in January, has asked a bankruptcy judge for $26.8 million in total incentives for 13 management team members with the rest intended for 1,112 other key employees.
By Jenn Goodman • Feb. 14, 2020 -
Q&ANew Swinerton CEO talks about growth in conversation with Construction Dive
Eric Foster discusses labor retention, construction technology and the importance of diversification as he takes the reins of the 132-year-old employee-owned company.
By Jenn Goodman • Feb. 14, 2020 -
AECOM, Skanska, Katerra, more switch up execs in new year
Suffolk, Granite and Swinerton have all made big personnel changes as well so far this year, and Thornton Tomasetti leadership changes are six-fold. Women and people of color are predictabily underepresented.
By Kim Slowey • Feb. 12, 2020 -
Bechtel opens NYC office to capitalize on infrastructure opportunities
The top contractor by revenue has opened a Manhattan office to improve work on transit and other projects in the area.
By Jenn Goodman • Feb. 11, 2020 -
Skanska's construction division records 245% increase in earnings in 2019
The Swedish multinational recorded an operating margin of 2.4% and operating income of $3.8 billion Swedish krona (U.S. $394 million).
By Jenn Goodman • Feb. 07, 2020 -
Suffolk rebrands, expands beyond construction
Suffolk's new strategy will see its increased involvement through the entire lifecycle of a construction project.
By Kim Slowey • Feb. 05, 2020 -
AECOM records Q1 earnings decline, finalizes division sale, stays mum on potential WSP merger
During the company's Q1 earnings call, CEO Michael S. Burke mentioned the search for his successor and announced the sale of the firm's Management Services division.
By Jenn Goodman • Feb. 04, 2020 -
Lendlease names Mike Fratianni new managing director of its Americas construction division
Fratianni started his construction career in the trades and spent more than 30 years with the company that was to become AECOM Hunt.
By Kim Slowey • Feb. 04, 2020 -
John Laing CEO Olivier Brousse resigns
John Laing operations, including its billion-dollar-plus U.S. projects, should remain unchanged, a source close to the international infrastructure development firm told Construction Dive.
By Kim Slowey • Jan. 24, 2020 -
McDermott to file for Chapter 11
The struggling energy construction giant announced it would file a prepackaged restructuring plan at the U.S. Bankruptcy Court in Houston.
By Jenn Goodman • Jan. 21, 2020 -
AECOM reportedly in talks with WSP
Bloomberg reported that the acquisitive Canadian professional services firm approached the Los Angeles-based construction and engineering giant.
By Jenn Goodman • Jan. 14, 2020 -
The public construction firms to watch in 2020
Risk reduction, deleveraging and even bankruptcy are on the table for some of the industry's top publicly traded companies this year.
By Jenn Goodman • Jan. 10, 2020 -
Gilbane taps former Skanska CEO in leadership rearrangement
New additions to the team, which center around the company's New York and New England divisions, include former CEO and president of Skanska USA, Rich Cavallaro.
By Kim Slowey • Jan. 10, 2020 -
Top trends: 5 ways construction will evolve in 2020
Though the nation's second-largest industry seems like it doesn't change much, there are myriad, nuanced forces shaping the way contractors do business and buildings get built, and more so now than ever before.
By Joe Beeton • Jan. 07, 2020 -
Rosendin names new executive team for 2020
The $2 billion employee-owned electrical contractor is transitioning five officials into leadership roles, including CEO, as part of a retirement succession plan.
By Kim Slowey • Dec. 16, 2019 -
Katerra closing Phoenix modular building facility, laying off 200 workers
The California-based designer and builder of prefabricated components and mass timber modular units said it's on a growth path toward profitability next year despite having to close the 250,000-square-foot facility this month.
By Joe Beeton • Dec. 10, 2019 -
Dive Awards
Company of the Year: Haskell
Haskell not only embraces technology, but actively invests and innovates in the space to establish itself as a leader in a changing construction climate.
By Kim Slowey • Dec. 09, 2019 -
Dive Awards
Executive of the Year: Richard Kennedy, Skanska USA
Looking back on his 15 years leading one the nation's largest builders, he says, "You have to stand for something more than just quarterly and annual results," such as enterprising solutions that underline safety, diversity and inclusion.
By Kim Slowey • Dec. 09, 2019 -
STO, Layton to merge before year-end
Layton Construction and STO Building Group, formerly known as the Structure Tone Organization, announced the deal yesterday and said it would create one of the nation's largest construction firms.
By Kim Slowey • Dec. 05, 2019 -
McDermott receives NYSE delisting warning
As the company staves off bankruptcy, it must also remedy that its average closing price of common stock has fallen below $1 per share over a period of 30 consecutive trading days, the minimum for continued listing.
By Jenn Goodman • UPDATED: Dec. 16, 2019 at 8:58 a.m. -
AECOM's Michael Burke to leave, opening door for new CEO and new chairman
The firm also announced today an agreement that will add three Starboard Value members to its board. "The company is at a point of major change ... and the timing seems appropriate," an analyst told Construction Dive.
By Jenn Goodman • Nov. 22, 2019 -
Construction's biggest executive moves in 2019
Some of the biggest players have appointed new leaders to maintain dominance as the industry anticipates headwinds.
By Kim Slowey • Nov. 20, 2019 -
AECOM has mixed results for FY, Q4 amid restructuring and strong backlog
The fourth-largest contractor in the country set a new revenue record overall despite a net loss as it continued to move away from some at-risk, self-perform construction work, exit countries and divest some business segments.
By Jenn Goodman • Nov. 12, 2019 -
Tutor Perini's Q3: Operating cash, revenue, profit and backlog all up
The general contractor said its ability to collect on disputed change orders bumped its operating cash to record levels.
By Kim Slowey • Nov. 08, 2019 -
Skanska scores 324% operating profit increase YoY in Q3
The Swedish firm said a focus on profitability rather than volume helped it beat analysts' estimates.
By Kim Slowey • Nov. 07, 2019
