Tutor Perini Corporation Announces Formation Of Specialty Contractors Group and Appointments Of Executive Officers
September 14, 2011
SYLMAR, Calif., Sep 14, 2011 (BUSINESS WIRE) -- Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, today announced that it has formed a Specialty Contractors Group comprised primarily of Tutor Perini's electrical and mechanical contractors. In future periodic filings the Company will now have four reporting segments: Building, Civil, Management Services and Specialty Contractors.
The Specialty Contractors Group will include Tutor Perini subsidiary companies Five Star Electric, Fisk Electric, WDF, Desert Mechanical, Nagelbush Mechanical and Superior Gunite. The new group had a backlog of $1.4 billion as of July 1, 2011 and is expected to generate revenues in excess of $1 billion over the next four quarters.
Kenneth Burk has been named Chief Executive Officer of the Specialty Contractors Group. Mr. Burk has been the Company's Chief Financial Officer since 2007 and has been actively involved in completing the acquisitions and the formation of the new group.
In conjunction with Mr. Burk's appointment, the Company has hired Michael Kershaw to be Tutor Perini's Executive Vice President and Chief Financial Officer. Mr. Kershaw's appointment will be effective September 21, 2011. Mr. Kershaw was previously Senior Vice President and Chief Accounting Officer for The Shaw Group Inc. since 2007 and held financial executive positions with KBR and McDermott earlier in his career. Mr. Kershaw has over 30 years experience in the construction industry.