Sterling Announces the Appointment of Ronald Ballschmiede as Interim Chief Financial Officer and the Departure of Sharon Villaverde as Chief Financial Officer

Rhea-AI Summary

Sterling Infrastructure (NASDAQ: STRL) has announced leadership changes in its financial department. Ronald A. Ballschmiede, the company's Executive Vice President, has been appointed as interim Principal Financial Officer and Principal Accounting Officer, effective March 14th, 2025. This appointment follows the departure of Sharon Villaverde, who is leaving to pursue other opportunities.

Ballschmiede brings significant experience to the interim role, having previously served as Sterling's Chief Financial Officer and Chief Accounting Officer from November 2015 to May 2024, while maintaining his Executive Vice President position since 2015. The company has initiated a formal search process to identify a permanent Chief Financial Officer.

Positive

• Seamless transition with experienced interim CFO who previously served in the role for 8.5 years
• Continuity in financial leadership maintained through internal appointment

Negative

• Unexpected departure of CFO after only one year in the position
• Additional executive search costs and potential disruption during transition period

News Market Reaction

-0.73%

1 alert

-0.73% News Effect

On the day this news was published, STRL declined 0.73%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

THE WOODLANDS, Texas, March 14, 2025 /PRNewswire/ -- Sterling Infrastructure, Inc. (NasdaqGS: STRL) ("Sterling" or "the Company") today announced the appointment of Ronald A. Ballschmiede, the Company's Executive Vice President, as Sterling's interim Principal Financial Officer and Principal Accounting Officer, effective March 14^th.  Mr. Ballschmiede assumes this position following the departure of Sharon Villaverde to pursue other opportunities. Mr. Ballschmiede served as Sterling's Chief Financial Officer and Chief Accounting Officer from November 2015 to May 2024, and has held the role of Executive Vice President from 2015 through the present. The Company has initiated a formal search process to identify a permanent Chief Financial Officer.

CEO Remarks 
"I would like to thank Sharon for her contributions to Sterling over the past year and wish her all the best in her future endeavors," stated Joe Cutillo, Sterling's Chief Executive Officer. "We are very pleased that Ron can seamlessly resume the CFO role during the transition period. We remain as confident as ever in the opportunities ahead of us and our team's ability to execute at a high level," Mr. Cutillo concluded.

About Sterling 
Sterling operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands. E-Infrastructure Solutions provides advanced, large-scale site development services for manufacturing, data centers, large scale distribution centers, warehousing, power generation and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concrete work, plumbing services, and surveys for new single-family residential builds. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society's quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.

Joe Cutillo, CEO, "We build and service the infrastructure that enables our economy to run,
our people to move and our country to grow."

Sterling Infrastructure Contact
Noelle Dilts, VP of Investor Relations and Corporate Strategy
281-214-0795
noelle.dilts@strlco.com

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SOURCE Sterling Infrastructure, Inc.

FAQ

Who is the new interim CFO of Sterling Infrastructure (STRL) as of March 14, 2025?

Ronald A. Ballschmiede, Sterling's Executive Vice President, has been appointed as interim Principal Financial Officer and Principal Accounting Officer.

What is Ronald Ballschmiede's previous experience at Sterling Infrastructure (STRL)?

Ballschmiede served as Sterling's CFO and Chief Accounting Officer from November 2015 to May 2024, and has been Executive Vice President since 2015.

Why did Sharon Villaverde leave her position as CFO at Sterling Infrastructure (STRL)?

According to the announcement, Sharon Villaverde left Sterling Infrastructure to pursue other opportunities.

What is Sterling Infrastructure's (STRL) plan for finding a permanent CFO?

Sterling has initiated a formal search process to identify a permanent Chief Financial Officer.