MYR Group Inc. Announces Senior Leadership Succession Plan
MYR Group Inc. announced the retirement of Tod M. Cooper as Senior Vice President and Chief Operating Officer of the Transmission & Distribution segment, with Brian K. Stern taking over the role. Cooper will remain in a senior role with a focus on leadership development, strategic initiatives, and client development. MYR Group's President and CEO, Rick Swartz, expressed gratitude for Cooper's contributions and announced Stern's promotion as part of the long-term succession planning process.
01/25/2024 - 04:12 PM
THORNTON, Colo., Jan. 25, 2024 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group” or the “Company”) (NASDAQ: MYRG) , a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today that as part of a planned leadership succession process, Tod M. Cooper will retire from his position as Senior Vice President and Chief Operating Officer of MYR Group’s Transmission & Distribution (“T&D”) segment and transition the role to Brian K. Stern, effective March 1, 2024. Mr. Cooper will remain in a senior role with the Company with a focus on leadership development, strategic initiatives, and client development.
MYR Group’s President and CEO, Rick Swartz, said, “On behalf of our Board and our entire leadership team, I would like to thank Tod for his significant leadership contributions to MYR Group. Tod has played a key role in the growth, strategic direction, and leadership development of our Company. We look forward to Tod’s continued contributions to MYR Group.” Mr. Cooper has a combined 33 years of service with the Company and its subsidiaries, beginning his career with The L.E. Myers Co., and has served as Chief Operating Officer of MYR Group’s T&D segment since 2017.
Mr. Swartz continued, “We are also excited to announce that as part of our long-term succession planning process, Brian Stern will be promoted to Chief Operating Officer of MYR Group’s T&D segment. Brian brings 19 years of experience with MYR Group and its subsidiaries, has served as Group Vice President in our T&D segment since 2017, and has extensive experience in the transmission and distribution industry leading several of our subsidiaries.”
About MYR Group Inc.
Forward-Looking Statements Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenue, income, capital spending, segment improvements and investments. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “likely,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “unlikely,” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this announcement speak only as of the date of this announcement. We disclaim any obligation to update these statements (unless required by securities laws), and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Forward-looking statements in this announcement should be evaluated together with the many uncertainties that affect MYR Group's business, particularly those mentioned in the risk factors and cautionary statements in Item 1A. of MYR Group's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in any risk factors or cautionary statements contained in MYR Group's subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
MYR Group Inc. Contact: investorinfo@myrgroup.com
Investor Contact: dgutierrez@dresnerco.com
Who is retiring from MYR Group Inc.?
Tod M. Cooper is retiring from his position as Senior Vice President and Chief Operating Officer of MYR Group's Transmission & Distribution segment.
Who will take over Tod M. Cooper's role?
Brian K. Stern will take over the role of Senior Vice President and Chief Operating Officer of MYR Group's Transmission & Distribution segment.
What will Tod M. Cooper's focus be after retirement?
Tod M. Cooper will remain in a senior role with a focus on leadership development, strategic initiatives, and client development.
Who expressed gratitude for Tod M. Cooper's contributions?
MYR Group's President and CEO, Rick Swartz, expressed gratitude for Tod M. Cooper's significant leadership contributions to MYR Group.
Who will be promoted to Chief Operating Officer of MYR Group's T&D segment?
Brian Stern will be promoted to Chief Operating Officer of MYR Group's Transmission & Distribution segment as part of the long-term succession planning process.
