Business
Sterling Announces the Passing of its Board Chairman, Milton L. Scott
THE WOODLANDS, Texas--(BUSINESS WIRE)-- Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) announced with deep sadness, the
About this update from Sterling Infrastructure, Inc.
[{"type":"text","content":" THE WOODLANDS, Texas--(BUSINESS WIRE)--\nSterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) announced with deep sadness, the passing of Milton L. Scott, a director and the Chairman of the Board of the Company.\n\n\nMr. Scott brought to the Board his many years of experience as an audit partner at a large public accounting firm as well as leadership, managerial and corporate governance skills acquired during his tenure as a senior executive at a Fortune 500 company, and entrepreneurial skills developed through the founding of several companies in the energy service and technology sectors.\n\n\nMr. Scott had been a member of the Company's Board since 2005 and was elected Chairman of the Board of Directors of the Company in March of 2015. Additionally, Mr. Scott served as a member of the Company's Audit Committee and previously on its Corporate Governance & Nominating Committee. During Mr. Scott’s tenure as Chairman, the Company returned to profitability and successfully completed two significant strategic acquisitions, Tealstone in 2017 and Plateau Excavation in October 2019. During this time, Mr. Scott was also instrumental in enhancing and supporting the executive management team at the Company, along with leading the initiative of refreshing board membership to broaden industry expertise, improve board governance and promote diversity.\n\n\nSterling CEO, Joe Cutillo, commented “Milton will not only be a great loss to the Sterling family, but also a great loss to the community. He was a leader, mentor, friend and inspiration to many people. His work and dedication was instrumental in the successful turnaround of Sterling and his passion of giving back has positively changed many people’s lives in our community. Milton may have left us for now, but the impact of his work will go on for many years. Our thoughts and prayers go out to Milton’s family and all those touched by him.”\n\n\nIn light of Mr. Scott's passing, on December 10, 2019, the Company held a special meeting of the Board of Directors to appoint Thomas M. White as the Chairman of the Board, who will serve out the remainder of the Chairman's term until the next shareholder meeting. Mr. White's appointment was part of the Board's planned Chairman succession plan.\n\n\nMr. White has been a member of the Company's Board since 2018 and brin...