NEW YORK CITY—Skanska ABhas named Richard Cavallaro an EVPof Skanska AB and president and CEO of Skanska USA, overseeingthe company's US construction operations, which had combinedrevenue in 2013 of nearly $7 billion. Cavallaro, who also willbe a member of Skanska AB's senior executive team,succeeds Michael McNally who previouslyannounced plans to retire from the same role at the end ofthe year.

Michael Cobelli steps into Cavallaro'srole as president and CEO of the Skanska USA Civilbusiness unit. Both Cavallaro and Cobelli are Skanskaveterans. Cavallaro has been with Skanska since 1996 and hasled the civil business unit for the past five years doubling itsrevenue and tripling its profit. Under hisleadership, USA Civil expanded its geographic footprint,shifted from a regional player to a national competitor, became a significant force in the power and industrial spaceand consistently achieved the company's best safety record.

"Rich has a deep understanding of our clients' needs; a trackrecord of strategic leadership; depth of knowledge; and astraight-forward communications approach,” says McNally. “Addingall of that to his ability to consistently drive results makes mecertain that he will continue to strengthen our US operations."