Bowman Announces Retirement Plan for Founder and CEO Gary Bowman
Rhea-AI Summary
Bowman (NASDAQ: BWMN) announced founder and CEO Gary Bowman plans to retire as CEO and resign as director later in 2026, with the board initiating a formal internal and external search for his successor.
Mr. Bowman is expected to remain CEO until a successor is appointed and serve as Senior Advisor. The board approved amendments to the employment agreements of the CFO and COO to ensure leadership continuity. Since 1995 the firm expanded to over 100 U.S. offices, reached #72 on ENR Top 500, completed >35 acquisitions and has more than tripled since the 2021 IPO.
Positive
- Founder succession planned with senior-advisor transition
- Company has 100+ U.S. offices and national footprint
- Scale since IPO: more than tripled in size since 2021
- 35+ acquisitions completed to expand services and geography
- Board approved amended agreements for CFO and COO to ensure continuity
Negative
- CEO plans to resign later in 2026, creating leadership change risk
- Formal search for successor may create interim execution uncertainty
Key Figures
Market Reality Check
Peers on Argus
Before the leadership news, BWMN was up 1.75. Key peers showed mixed moves: GLDD -0.12, NVEE 0.8, WLDN 3.9, BBCP 2.35, MTRX 0.26. Momentum scanner flagged GLDD and other names but overall sector move was marked false.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 04 | Earnings date set | Neutral | -1.4% | Announced dates for Q4 and full-year 2025 results and call. |
| Jan 29 | Contract award | Positive | +2.0% | Won multi-year geospatial contract for Virginia coal ash project. |
| Jan 13 | Major project win | Positive | -0.8% | Selected to lead $30M multi-year Chicago flood control project. |
| Dec 16 | Nasdaq bell event | Positive | -3.8% | Planned Nasdaq closing bell to highlight RPT Alliance acquisition. |
| Dec 08 | Strategic acquisition | Positive | -1.6% | Acquired RPT Alliance to expand power and utilities capabilities. |
Recent positive corporate developments have often coincided with flat to negative next-day price reactions.
Over the past six months, Bowman has focused on growth initiatives and capital markets visibility. A $59.7 million RPT Alliance acquisition broadened energy engineering capabilities, while a multi‑year flood control contract and a large coal ash project expanded the infrastructure backlog. The company also scheduled Q4 and full‑year 2025 results and celebrated its RPT deal with a Nasdaq closing bell. Against this backdrop, today’s CEO retirement plan adds a leadership‑transition milestone to an otherwise growth‑oriented narrative.
Market Pulse Summary
This announcement outlines a planned CEO retirement and orderly succession after decades of founder-led growth. Bowman expanded from its 1995 founding to over 100 U.S. offices, ranking #72 on ENR’s Top 500 list and completing more than 35 acquisitions since its 2021 IPO. Investors may monitor how the board’s search progresses, how continuity agreements with senior executives support operations, and how upcoming earnings and project wins track against this leadership transition.
Key Terms
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AI-generated analysis. Not financial advice.
Board initiates search process, Mr. Bowman expected to remain CEO until successor appointed
RESTON, Va., Feb. 17, 2026 (GLOBE NEWSWIRE) -- Bowman Consulting Group Ltd. (NASDAQ: BWMN), a national engineering services and program management firm, today announced that its founder and chief executive officer Gary Bowman plans to retire as CEO and resign as director later this year in connection with the appointment of his successor. The company’s board of directors has initiated a formal search process to include both internal and external candidates. As part of the transition, Mr. Bowman is expected to serve as Senior Advisor to the company to support an orderly process.
From its founding in 1995, Mr. Bowman has led the growth of the company into a national engineering firm with over 100 U.S. offices, reaching #72 on ENR’s current list of the Top 500 Design Firms in the U.S. Since its 2021 IPO, the company has more than tripled in size, completed more than 35 acquisitions, expanded its national footprint and diversified its service portfolio.
In connection with Mr. Bowman’s announcement, the board approved amendments to the employment agreements of Bruce Labovitz, chief financial officer, and Dan Swayze, chief operating officer, to ensure continuity of leadership and a successful transition process.
“Few founders have the opportunity to lead their companies through the level of growth and transformation Bowman has achieved,” said Jim Laurito, chairman of the board. “On behalf of the board, I would like to thank Gary for his visionary leadership and unwavering commitment over three decades. He has built not only a national engineering platform, but a culture grounded in discipline, accountability and long-term value creation. Bowman is exceptionally well positioned for its next chapter because of the foundation he has established.”
“Leading this company has been one of the most rewarding experiences of my life,” said Mr. Bowman. “I’m proud of the team we’ve built and the culture we’ve established together. Since going public in 2021, we have scaled the business beyond what we envisioned and built a durable national platform positioned for long-term success. I have full confidence that in this leadership succession process the board will select a new CEO with the same discipline, culture and values that built this company.
“In the interim, we will continue to focus on organic growth, expanding our national presence, and introducing innovations that position Bowman to deliver even greater impact for employees, shareholders and customers.”
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is a national engineering services firm delivering infrastructure, technology and project management solutions to customers who own, develop and maintain the built environment. With over 2,500 employees in more than 100 locations throughout the United States, Bowman provides extensive planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement and other technical services to customers operating in a diverse set of regulated end markets. Bowman trades on the Nasdaq under the symbol BWMN. For more information, visit bowman.com or investors.bowman.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding Mr. Bowman’s intention to retire as chief executive officer and from the Board, and the timing thereof; Mr. Bowman’s intention to continue to serve as the company’s chief executive officer until a successor is appointed and to serve as a senior advisor; and the company’s future results of operations and financial position, business strategy and plans and objectives for future operations, and represent the company’s views as of the date of this press release. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will,” “goal,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to several assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control. The company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this press release. Such factors include: (a) the Board of Directors’ ability to identify and engage a qualified chief executive officer candidate with the necessary skills and experience in a timely manner or at all; disruption of the company’s operations resulting in the departure of Mr. Bowman that could adversely impact an orderly transition process, the company’s changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations or policies; and the “Risk Factors” set forth in the company’s most recent SEC filings. Actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements after the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Media & Investor Relations Contact:
Betsy Patterson
ir@bowman.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cc325585-63c6-4d72-95e0-465484c72bb4
FAQ
When will Gary Bowman step down as CEO of Bowman (BWMN)?
Will Gary Bowman remain involved with Bowman (BWMN) after retiring as CEO?
How is Bowman (BWMN) managing leadership continuity during the CEO transition?
What scale and growth milestones did Bowman (BWMN) cite in the retirement announcement?
How might the CEO succession affect Bowman (BWMN) shareholders in the near term?
