CIMIC Group has promoted Michael Wright to chief executive officer and managing director.
Wright, currently CIMIC’s deputy CEO, will take over as CEO of the global contractor from December 1. He will succeed Adolfo Valderas, who has accepted a new role with ACS Group.
CIMIC Group executive chairman Marcelino Fernández Verdes said Wright has a proven record of achievement at the company.
“He has experience across our disciplines of construction, mining and services, and a focus on delivering for our clients and on the safety of our people,” Verdes said.
“Adolfo and Michael have been working closely together during the past months and the board and I are confident in Michael’s ability to lead CIMIC Group.”
Wright said he was both honoured and privileged by the appointment at a company he has been part of for 20 years.
“Having worked across a number of our operating companies, and more recently at CIMIC, I am pleased to see CIMIC Group has an established approach of delivering cash-backed profits from activity focused businesses, and a consistent and clear approach to safety, leadership, governance, risk, culture and delivery to our clients,” Wright said.
“My focus will be to further embed this strategy in all aspects of our operations and to continue to develop the group’s culture for the benefit of our clients, our shareholders and our people.”
CIMIC has also appointed Ignacio Segura as its next deputy CEO and chief operating officer. Segura is currently the CEO of Dragados, a construction company owned by ACS Group.
“During his more than 18 years with Dragados, Ignacio has built valuable, international expertise in running one of the world’s largest contractors,” Verdes said.
“I would like to thank Adolfo for his outstanding contribution to CIMIC Group. Adolfo has played an integral role in achieving the Group’s present robust and competitive position, as reflected in our third quarter result which we announced today.”