In a move that appeared to happen faster than at least one Wall Street analyst predicted, Houston energy specialty contracting giant Quanta Services Inc. on March 14 said Chief Operating Officer Earl “Duke” Austin has succeeded James O’Neil as president and CEO. O’Neill, in the top roles for the past five years, also resigned from the firm’s board but will remain as an adviser for an undisclosed period. Austin was president of Quanta’s electric-power and oil-and-gas divisions as well as president of North Houston Pole Line L.P., a specialty contractor that Quanta acquired. “While Duke Austin was expected to be O’Neil’s successor, there was no indication O’Neil was retiring in the near term,” said Jamie Cook, construction-sector analyst for Credit Suisse in a March 14 note. But the firm said the succession “was contemplated for some time,” she noted. Quanta is the top-ranked firm on ENR’s list of the Top 600 Specialty Contractors, reporting $7.14 billion in 2014 revenue. The firm reported a revenue drop for 2015 in its latest results on Feb. 26, and its fourth-quarter earnings declined, driven by oil and gas pressures. But profit rose to $310.9 million for last year, up from $296.7 million in 2014. O’Neil said the firm expected “improved project execution and increasing mainline pipe activity to drive profitable growth” in 2016.
Charles D. Avolio has joined Boston-based Suffolk Construction as president of its New York City operations. He was vice president and general manager at Turner Construction. Suffolk says Avolio is a former co-chairman of the Building Trades Employers’ Association.