New CEO Gary Smalley Takes the Helm at Tutor Perini
Tutor Perini Corporation (NYSE: TPC), a prominent leader in civil, building, and specialty construction, has announced the appointment of Gary Smalley as its new CEO and member of the Board of Directors. This significant leadership change comes as Ronald N. Tutor transitions to the role of Executive Chairman, concluding his tenure as Chairman and CEO that began in 2008.
The new CEO, Gary Smalley, has been a key figure in Tutor Perini’s success since joining the company in 2015. Before ascending to his current position, Smalley served as President, a role he took on in November 2023 as part of a carefully structured succession plan. Previously, Smalley was the company’s Executive Vice President and Chief Financial Officer, a position he held for eight years. During this time, he played a pivotal role in strengthening the company’s financial foundation. Smalley’s career prior to Tutor Perini includes nearly 24 years at Fluor Corporation, a global leader in engineering and construction, where he held several senior financial management roles.
Ronald Tutor expressed his full confidence in the new CEO and his ability to lead the company into its next chapter. “Gary is an exceptional leader with extensive expertise, and his strategic vision will propel Tutor Perini to new heights. Over the last decade, he has been instrumental in driving our success, especially in leveraging opportunities from increased infrastructure spending and enhancing our financial stability. With a record-breaking backlog and a clear roadmap for profitability and cash flow generation, Tutor Perini is well-positioned for long-term shareholder value creation,” said Tutor.
The transition to a new CEO was also lauded by Robert Lieber, the company’s Lead Independent Director, who emphasized the leadership strengths Smalley brings to the table. “The Board strongly supports Gary’s appointment and eagerly anticipates working with him to guide the company forward. At the same time, we owe immense gratitude to Ron Tutor for his extraordinary leadership over six decades. His vision and dedication have transformed the construction industry, significantly improved national infrastructure, and created economic opportunities across the United States,” Lieber noted.
Gary Smalley, the new CEO, expressed his gratitude and determination to build upon the company’s strong legacy. “It is a privilege to succeed Ron, a true icon and visionary in the construction industry. His mentorship and leadership have laid a strong foundation for Tutor Perini’s ongoing success. I am committed to advancing our strategy, delivering on recent major project wins, and pursuing growth opportunities that drive shareholder value. With a record backlog and a clear focus on operational excellence, we are poised to usher in a new era of achievement,” Smalley stated.
The appointment of the new CEO comes at a critical juncture for Tutor Perini. The company is experiencing significant momentum, supported by a robust project pipeline and record-setting backlog levels. Its focus on large-scale infrastructure development and innovative strategic initiatives positions it for sustained growth in the near and long term.
About Tutor Perini Corporation
Tutor Perini Corporation is a leading construction company specializing in civil, building, and specialty projects. Its services cater to both private clients and public agencies worldwide. Since its establishment in 1894, the company has built a strong reputation for delivering complex, large-scale projects on schedule, within budget, and to the highest quality standards.
The company provides a comprehensive range of services, including general contracting, pre-construction planning, and project management. Its expertise extends to manpower scheduling, equipment allocation, material sourcing, and subcontractor coordination. Additionally, Tutor Perini excels in self-performed construction services, including site work, concrete forming and placement, steel erection, and the installation of electrical, mechanical, plumbing, and HVAC systems.
With a steadfast commitment to quality, safety, and innovation, Tutor Perini remains a trusted partner in shaping critical infrastructure. Under the leadership of its new CEO, Gary Smalley, the company is poised to continue delivering excellence and contributing to economic progress and community development on a global scale.commitment to innovation, safety, and quality has cemented its position as a trusted partner in creating critical infrastructure. By consistently delivering excellence, the company continues to contribute to economic progress and community development on a global scale.
