Dycom CEO Steve Nielsen leaves

  • After almost 26 years in the position
  • Praise and thanks for Nielsen
  • Dan Peyovich taking over
  • Nielsen spoke at length and said 197 words

(exechange) — Palm Beach Gardens, Florida, June 17, 2024 — Steve Nielsen, chief executive of Dycom, leaves his position. As announced by Dycom Industries Inc. in a news release and in a regulatory filing published on Monday, June 17, 2024, Steven E. (Steve) Nielsen leaves his post as chief executive officer at the provider of specialty contracting services to the telecommunications infrastructure and utility industries, after almost 26 years in the role, effective November 30, 2024.

It is the end of an era.

Steve Nielsen’s duties as CEO will be taken over by Daniel S. (Dan) Peyovich, previously Chief Operating Officer at Dycom Industries Inc.

“Comprehensive multi-year succession plan”

The planned management change is explained as follows. Dycom stated: “In preparation for his retirement, Mr. Nielsen worked closely with the Board of Directors (the “Board”) on a comprehensive multi-year succession plan. As a result of that process, Daniel S. Peyovich, the Company’s Executive Vice President and Chief Operating Officer, has been appointed the Company’s next CEO, effective upon Mr. Nielsen’s retirement.”

Precise information regarding Steve Nielsen’s future plans was not immediately available.

“Retire”

Dycom said: “[A]fter 25 years of service as Chief Executive Officer, Steven E. Nielsen will retire on November 30, 2024.”

Share price increase since June 2023

The announcement follows an increase in Dycom Industries Inc.’s share price of 71% since June 2023.

In the position of CEO since 1999

Steve Nielsen became CEO of the Company in 1999.

Nielsen remains CEO and Chair of the Board until his retirement, at which point he will step down as a director.

Nielsen has been the President and Chief Executive Officer of the Company since March 1999; was its President and its Chief Operating Officer from August 1996 to March 1999; and a Vice President of the Company from February 1996 to August 1996.

197 words by Steve Nielsen

In the release announcing his departure as CEO of Dycom Industries Inc., Steve Nielsen received praise and thanks.

In the release announcing his departure as CEO, Steve Nielsen spoke at length and said 197 words.

“Seamless handover”

Steve Nielsen stated: “Today, Dycom is performing exceptionally well and is led by a skilled, experienced, and strong management team. Our strategy has positioned Dycom for sustained growth amidst unprecedented industry opportunities. I strongly believe that this is the right time for Dycom to transition to a new leader and am confident the Company is well positioned to continue delivering financial and operational success. Dan is ideally suited to lead Dycom into the future. He deeply understands our business, possesses broad operational expertise, and thoroughly appreciates the high expectations of our customers, employees and shareholders. I look forward to a seamless handover and will continue to collaborate closely with him throughout the transition period… I am proud of all that Dycom has accomplished during my more than 30 years working for the Company, and I want to express my heartfelt thanks to all the Dycom family for your support and commitment during my tenure as CEO. It has been an incredible honor to lead such an outstanding group of people. I am as excited today about Dycom’s prospects as ever and am convinced that together you and Dan will take Dycom to greater heights and to a very successful future.”

The above text is an excerpt from the exechange report 26.2024 ($), publication date June 24, 2024.