MARLTON, N.J., Jan. 31, 2014 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that the company's Board of Directors has approved a leadership succession plan that will allow for the transition of the Chief Executive Officer position at the end of this year. Effective December 31, 2014, Irvin E. Richter, Hill's Chairman and CEO, will relinquish the CEO title but will remain with the company as Chairman. At the same time, David L. Richter, currently Hill's President and Chief Operating Officer, will become President and CEO. Irv Richter founded the company in 1976 at the age of 31 and has been the only CEO in Hill's 38-year history. During that time, the company grew from one professional in one office to more than 4,000 professionals in 100 offices worldwide. Richter is a member of the World President's Organization, a Fellow of the Construction Management Association of America, and an inductee of the New Jersey Business Hall of Fame. Richter earned his B.A. in government from Wesleyan University and his J.D. from Rutgers University School of Law at Camden, and he has been named a distinguished alumnus at both schools. "Next year will be the right time for me to pass the CEO baton to David," said Irv Richter, who will turn 70 at the end of this year. "David has made major contributions to Hill's success and I am confident that this company will be in very capable hands with David as its CEO," he added. David Richter, 47, who is both an attorney and a civil engineer, has worked at Hill for nearly nineteen years and he has been Hill's President and COO for nearly ten years. Prior to his current position, he was President of Hill's Project Management Group from 2001 to 2004, Senior Vice President and General Counsel from 1999 to 2001, and Vice President and General Counsel from 1995 to 1999. Richter has also been a member of Hill's Board of Directors since 1998. He is a member of the Young Presidents' Organization, the Construction Industry Round Table, and the American Society of Civil Engineers. He is also a Fellow and past member of the Board of Directors of the Construction Management Association of America. Richter earned his B.S. in management, his B.S.E. in civil engineering and his J.D. from the University of Pennsylvania, and he is currently pursuing his M.Sc. in major program management from Oxford University.
Hill International, with 4,000 professionals in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the 9th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.The Hill International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5733 Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement. (HIL-G)
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