NEW YORK CITY—Skanska AB has named Richard Cavallaro an EVP of Skanska AB and president and CEO of Skanska USA, overseeing the company's US construction operations, which had combined revenue in 2013 of nearly $7 billion. Cavallaro, who also will be a member of Skanska AB's senior executive team, succeeds Michael McNally who previously announced plans to retire from the same role at the end of the year.
Michael Cobelli steps into Cavallaro's role as president and CEO of the Skanska USA Civil business unit. Both Cavallaro and Cobelli are Skanska veterans. Cavallaro has been with Skanska since 1996 and has led the civil business unit for the past five years doubling its revenue and tripling its profit. Under his leadership, USA Civil expanded its geographic footprint, shifted from a regional player to a national competitor, became a significant force in the power and industrial space and consistently achieved the company's best safety record.
"Rich has a deep understanding of our clients' needs; a track record of strategic leadership; depth of knowledge; and a straight-forward communications approach,” says McNally. “Adding all of that to his ability to consistently drive results makes me certain that he will continue to strengthen our US operations."
As president and CEO of Skanska USA Inc., Cavallaro will be responsible for Skanska's US construction operations including USABuilding, which specializes in building construction, and USA Civil, which is focused on civil infrastructure. He will be one of nine members of Skanska AB's Senior Executive Team responsible for global operations.
McNally is retiring after 35 years in construction and six years as Skanska's US leader. During his tenure, McNally transformed the business into a powerful brand and it grew to become the second largest domestic building contractor and the third largest domestic heavy civil contractor.
"It is an honor to lead our tremendous team of employees and this great company. I'm committed to building on Mike's legacy of One Skanska and working together to innovate and deliver for our clients," says Cavallaro. "Mike has been a great partner and mentor. Because of his relentless focus on our values and advocacy for safety and sustainability, we are known not just as a successful company but a company that cares about its people and our communities."
"It has been a privilege and a pleasure to be part of the Skanska family—to be part of a team of smart, proud, hardworking people who have built some of the world's most complex and important structures," says McNally. "I feel lucky that I could contribute to the growth of a company that has done so much to improve the communities where we live and work. I see nothing but potential for Skanska on the horizon."
USA Civil COO Michael Cobelli moves into the role of president and CEO of USA Civil. Cobelli has been with Skanska for his entire 30-year career, with a strong focus on project execution. He has been involved in constructing some of the most complex and high-profile heavy civil construction projects in the US.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
