CIMIC name new CEO

CIMIC Group has announced the promotion of Michael Wright to CEO and Managing Director, having previously held the role of Deputy CEO.

According to a statement from the company, current CIMIC Group CEO Adolfo Valderas has taken a role with ACS Group, but will remain as CIMIC Group Director, holding the position as an alternate.

Mr. Wright will take on the role effective from 1 December 2017.

The company also announced the appointment of Ignacio Segura to the positions of Deputy CEO and COO.

“Michael has a proven record of achievement at our company. He has experience across our disciplines of construction, mining and services, and a focus on delivering for our clients and on the safety of our people. Adolfo and Michael have been working closely together during the past months and the board and I are confident in Michael’s ability to lead CIMIC Group,” said CIMIC Group Executive Chairman Marcelino Fernández said in the statement.

“I am also pleased to welcome Ignacio to CIMIC Group. He is currently the Chief Executive Officer of Dragados, a leading construction company owned by ACS Group. During his more than 18 years with Dragados, Ignacio has built valuable, international expertise in running one of the world’s largest contractors.

“I would like to thank Adolfo for his outstanding contribution to CIMIC Group. Adolfo has played an integral role in achieving the Group’s present robust and competitive position, as reflected in our third quarter result which we announced today.”

Mr. Wright said he was both honoured and privileged to be appointed to the role.

“Having worked across a number of our operating companies, and more recently at CIMIC, I am pleased to see CIMIC Group has an established approach of delivering cash-backed profits from activity focused businesses, and a consistent and clear approach to safety, leadership, governance, risk, culture and delivery to our clients,” said Mr. Wright.

“My focus will be to further embed this strategy in all aspects of our operations and to continue to develop the Group’s culture for the benefit of our clients, our shareholders and our people.”

A transition period for the changes is underway.