CIMIC Group Announces Appointment of CEO And Deputy CEO, COO

CIMIC Group today announced the promotion of Michael Wright to Chief Executive Officer and Managing Director, from Deputy Chief Executive Officer, and the appointment of Ignacio Segura as Deputy Chief Executive Officer and Chief Operating Officer.

Adolfo Valderas, currently CIMIC Group Chief Executive Officer, has accepted a role with ACS Group. He will remain as a CIMIC Group Director, holding the position as an Alternate.

CIMIC Group Executive Chairman Marcelino Fernández Verdes said: “I am pleased to announce today that Michael will be succeeding Adolfo as CIMIC Group Chief Executive Officer, with effect from 1 December 2017.

“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.

“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: “I am both honoured and privileged to be appointed as Chief Executive Officer of CIMIC Group – a company that I have been a part of for almost 20 years.

“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.

“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.

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