Sterling Infrastructure Appoints Interim CFO

By Bobby Samwell • Sunday, March 16 15:31 • Permanent Link

Sterling Infrastructure, Inc. (NasdaqGS: STRL) has announced the appointment of Ronald A. Ballschmiede as the interim Principal Financial Officer and Principal Accounting Officer, following the departure of Sharon Villaverde. Ballschmiede previously served as Sterling’s Chief Financial Officer and Chief Accounting Officer from November 2015 to May 2024, and has been the Executive Vice President since 2015.

The company has initiated a formal search process to identify a permanent Chief Financial Officer. Joe Cutillo, Sterling’s Chief Executive Officer, expressed gratitude to Sharon for her contributions and wished her well in her future endeavors. Cutillo also expressed confidence in Ballschmiede's ability to seamlessly resume the CFO role during this transition period.

Sterling Infrastructure operates through subsidiaries in three segments: E-Infrastructure, Transportation, and Building Solutions in the United States, focusing primarily on regions such as the Southern, Northeastern, Mid-Atlantic, and Rocky Mountain areas, as well as the Pacific Islands.

E-Infrastructure Solutions provides large-scale site development services for manufacturing, data centers, distribution centers, warehousing, and power generation. Transportation Solutions include infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail, and storm drainage systems. Building Solutions encompass residential and commercial concrete foundations, parking structures, elevated slabs, plumbing services, and surveys for new single-family residential builds.

Sterling Infrastructure's CEO, Joe Cutillo, emphasized the company's commitment to sustainability and its role in building and servicing infrastructure to facilitate economic growth and societal well-being. If you have any further questions, please contact Noelle Dilts, VP of Investor Relations and Corporate Strategy, at 281-214-0795 or [email protected]. The market has reacted to these announcements by moving the company's shares 3.0% to a price of $121.37. If you want to know more, read the company's complete 8-K report here.

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