Business
Construction Partners, Inc. Announces Planned Management Transition
Greg Hoffman to Succeed Alan Palmer as Chief Financial Officer DOTHAN, Ala., March 6, 2023 /PRNewswire/ -- Construction Partners, Inc. (NASDAQ: ROAD) ("CPI",
About this update from Construction Partners, Inc.
[{"type":"text","content":"Greg Hoffman to Succeed Alan Palmer as Chief Financial Officer\nDOTHAN, Ala., March 6, 2023 /PRNewswire/ -- Construction Partners, Inc. (NASDAQ: ROAD) (\"CPI\", the \"Company\" or \"Construction Partners\"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across six southeastern states, today announced, in accordance with the Company's management succession plan, that Greg Hoffman will succeed Alan Palmer as Chief Financial Officer, effective following the close of business on March 31, 2023. Palmer will continue with the Company in an advisory and mentoring role. \nAs Chief Financial Officer, Hoffman will assume full leadership of the financial team, expanding his oversight of the accounting and financial operations.\nCommenting on the succession plan, Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer said, \"Alan's financial leadership and oversight over the past 20 years have been instrumental in the formation and growth of Construction Partners. Alan has played a pivotal role in developing and growing a proficient and strong organization, building CPI's financial reputation, and establishing and maintaining the solid financial structure on which we operate today. Thanks in part to Alan's efforts, we have the financial flexibility to continue to pursue our strategic model as a consolidator in a fragmented industry by delivering proven, profitable growth and enhancing shareholder value. This includes investing in growth as we have vastly expanded our geographic footprint and relative market share throughout Alan's long career with CPI.\n\"I am personally grateful to Alan for his mentorship and wisdom over the years and am thankful for his many contributions to our organization. Alan's leadership and ability to mentor employees has undoubtedly contributed to CPI's success, including his support and guidance for Greg Hoffman as part of the succession plan. All of us at CPI are extremely thankful to Alan for his years of dedicated service, commitment to the business and leadership within our organization.\n\"Likewise, we have full confidence in Greg as he takes over for Alan. Greg has 20 years of relevant experience in our industry. He has served as the Senior Vice President of Finance since early 2021, and previously was the Chief Fina...