Private Equity Exec Now is Versar CEO After Buyout
Grid reliability chief resigns suddenly after arrest, agency confirms
Gary Cauley, the head of the regulatory authority tasked with assuring the reliability and security of the bulk power system in North America, resigned unexpectedly on Nov. 20 after his arrest on Nov. 10, the agency confirms. According to an Associated Press report, he faces a domestic violence charge in Georgia. Charles Berardesco, North American Electric Reliability Council executive vice president and general counsel, now is interim CEO. NERC is overseen in the U.S. by the Federal Energy Regulatory Commission.
Dwane Stone has been named CEO of professional services and construction-management firm Versar Inc., Springfield, Va., following its Nov. 14 acquisition by private equity firm Kingswood Capital Management, of which he was an operating executive, says the new parent. Versar, with about 400 employees, had been publicly traded. The firm ranks at No. 124 on ENR’s list of The Top 200 Environmental Firms, reporting $57.4million in environmental services revenue, which it says makes up about one-third of its total revenue. Stone, whose Linked-In profile lists him as a former energy executive of CH2M and Australia-based Ausenco, replaces Tony Otten, who remains as a transition consultant.
Paris-based international contractor Terre Armée S.A. has elevated Vincent Oudin to CEO, effective on Jan. 1. Part of the Soletanche Freyssinet Group and a unit of Vinci Group, the firm began in the 1960s with its patented Reinforced Earth system and now reports sales of about $300 million in construction of retaining walls, bridge abutments, breakwaters and related structures in numerous countries. Oudin was most recently executive chairman of the risk management and testing consultant Socotec Group. He joined Terre Armée in 2017 as deputy to CEO Roger Bloomfield, who is retiring.
Aconex Ltd., a digital project-delivery platform service, has elevated Tim Olshansky to chief technology officer from head of engineering, Americas. He founded Worksite, a Software-as-a-Service (SaaS) project cost-management provider that Aconex acquired in 2015.