- Praise for Tutor
- Gary Smalley taking over
- Tutor will remain as Executive Chairman at Tutor Perini
- Tutor said 63 words
(exechange) — Los Angeles, California, November 17, 2023 — Ron Tutor, chief executive of Tutor Perini, is set to leave his position. His upcoming departure is made public at an early stage. As announced by Tutor Perini Corp. in a news release published on Thursday, November 16, 2023, and in a regulatory filing published on Friday, November 17, 2023, Ronald N. (Ron) Tutor leaves his post as chief executive officer at the civil, building and specialty construction company, after almost 25 years in the role, effective January 1, 2025.
It is the end of an era.
Ron Tutor’s duties as CEO will be taken over by Gary G. Smalley, currently Chief Financial Officer at Tutor Perini Corp.
Tutor will remain as Executive Chairman at Tutor Perini
Tutor Perini stated: “Tutor Perini Corporation (the “Company”) (NYSE: TPC), a leading civil, building and specialty construction company, today announced that its Board of Directors (the “Board”) has appointed Gary Smalley, the Company’s current Executive Vice President and Chief Financial Officer, to the position of President, effective November 15, 2023. The Company plans for Mr. Smalley to succeed Ronald Tutor as Chief Executive Officer of the Company effective January 1, 2025, with Mr. Tutor transitioning to the role of Executive Chairman of the Company’s Board at that time, consistent with the timing of the leadership succession plan previously disclosed by the Company.”
Share price increase since November 2022
The announcement follows an increase in Tutor Perini Corp.’s share price of 8% since November 2022.
In the position of CEO since 2000
Ron Tutor became CEO of the Company in 2000.
Ronald N. Tutor has served as the Company’s Chief Executive Officer since March 2000, as Chairman of the Board since July 1999, and as a director since January 1997.
Tutor also served as Chairman of the Board, President and Chief Executive Officer of Tutor-Saliba Corporation (“Tutor-Saliba”), a privately held California corporation engaged in the construction industry, until Tutor-Saliba merged with the Company in September 2008.
He is a Life Trustee of the Board of Trustees of the University of Southern California.
Tutor holds a Bachelor of Science in Finance from the University of Southern California.
63 words by Ron Tutor
In the release announcing his departure as CEO of Tutor Perini Corp., Ron Tutor received praise.
In announcing his departure, Ron Tutor said 63 words.
“Gary is a proven leader”
Ron Tutor stated: “Gary is a proven leader who has provided valuable insights and demonstrated consistently sound judgment and first-rate executive management skills over his eight years with the Company. I am confident that Gary is the right person to lead Tutor Perini into the future, and I look forward to continuing to work with him and effecting a smooth leadership transition over the coming year.”
Push-out Score for Ron Tutor’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Ron Tutor was pushed out or felt pressure to leave his position.
exechange reached out to Tutor Perini and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 47.2023 ($).