McCarthy Holdings, Inc. Names Raymond Sedey as Next Chief Executive Officer

ST. LOUIS - Aug. 9, 2019 - PRLog -- After a deliberate, multi-year succession process, McCarthy Holdings Inc., one of America's premier building companies, announced this week the selection of Raymond  Sedey, as the firm's next chief executive officer. On Jan. 1, 2020, Sedey will assume this position, currently held by Michael D. Bolen, who will continue in the role as chairman of the McCarthy board of directors.

Founded as a family-owned business in 1864, McCarthy transitioned to 100 percent employee ownership in 2002 (https://www.mccarthy.com/about/employee-ownership), becoming one of the nation's largest Employee Stock Ownership Plan (ESOP) companies. Serving communities across the country, McCarthy is currently the nation's 12th largest domestic general contractor (Engineering News-Record, May 2019) with 2018 revenues exceeding $3.9 billion. Sedey will be the second non-family member to hold the McCarthy CEO position since the firm became employee-owned, and just its third CEO in the last 50 years.

"McCarthy stands on a strong, solid foundation poised for continued growth and success," explained Bolen. "Today's announcement concludes a comprehensive, deliberate and thoughtful evaluation and selection process. Ray Sedey is an experienced leader grown from within McCarthy. He brings a deep understanding of our company strategy and unique ownership culture, together with a strong commitment to delivering an exceptional experience for clients. I am pleased to have Ray succeed me in the CEO position."

"It is a true honor to be selected as Mike's successor," commented Sedey. "I look forward to working with all our employee owners, trade partners and clients in the years to come as we continue to positively impact the communities we serve."

Sedey began with McCarthy in 2000 as a project engineer in the firm's Southwest Region. He then moved through several core operations roles including superintendent, project manager and director, before being promoted to vice president, operations for the Las Vegas office in 2009. In 2012, Sedey was promoted to executive vice president responsible for leading business operations in Nevada, New Mexico and Colorado. In this role, he was instrumental in helping position McCarthy as a builder of choice in infrastructure, aviation, commercial, healthcare and entertainment projects, including successfully positioning the firm as a builder of choice for complex projects on the Las Vegas Strip.

In 2015, Sedey was selected to lead the McCarthy Texas Region as regional president. Under his leadership, McCarthy strengthened its position across the state of Texas with a focus on client results, safety, financial performance and talent management. In 2018, Sedey then led efforts to combine operations of the McCarthy Southeast Division and Texas Region to form a new Southern Region and assumed the position of Southern regional president.