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Sterling Construction Company Appoints Peter E. MacKenna CEO

Stocks in this article: STRL

The Board of Directors of Sterling Construction Company, Inc. (NasdaqGS: STRL), is pleased to announce the election of Peter E. MacKenna, 50, as Chief Executive Officer and a director of the Company effective September 1, 2012.

With Mr. MacKenna’s appointment, the roles of Chairman and Chief Executive Officer have been separated, with Patrick T. Manning remaining as Chairman. Members of management who previously reported to Mr. Manning will now report to Mr. MacKenna.

Mr. MacKenna brings more than 25 years of civil construction experience to Sterling, a career that includes over 14 years as President and CEO of various operating companies for Skanska AB, a Fortune 500 public company and one of the ten largest construction companies in the world. Early in his career, Mr. MacKenna led the financial turnaround of Skanska’s 100-year old Underpinning and Foundation Constructors. He subsequently led the operational integration of Skanska USA Civil Southeast (formerly Tidewater Construction Group) where he integrated separately-acquired businesses into one cohesive organization with 1,800 employees across a 13-state region. In these roles, Mr. MacKenna and his teams developed and implemented organic growth strategies across a wide range of Civil Construction segments including Water/Waste Water, Heavy Highway, Transit, Marine, and Foundation Construction.

Since 2009, Mr. MacKenna has served as Executive Vice President and Chief Strategy Officer of Skanska USA Civil. Under his oversight, this group undertook an ambitious growth initiative to dramatically increase revenue over a three-year period through a combination of acquisitions and organic growth. In this role he personally oversaw the development of Skanska USA Civil's acquisition strategy and took responsibility for all pre- and post-acquisition integration planning.

Commenting on the election of Mr. MacKenna, Mr. Manning said, “On behalf of Sterling’s Board and the entire staff, I am very pleased to welcome Peter. He is a proven business leader who brings the right mix of best-in-class practices and hands-on field-oriented leadership to our organization.”

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