Adolfson & Peterson taps new CEO

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For the primary time in 9 years, Adolfson & Peterson can have a brand new CEO.

Jeff Hansen, CEO of the Minneapolis-based builder, will retire efficient June 1 and Chief Working Officer Brad Hendrickson will take his place, based on a Wednesday information launch. Beneath Hansen’s management since 2017, the corporate has expanded its market presence in places comparable to Bismarck, North Dakota and achieved significant growth milestones in Central Texas. 

Hendrickson joined the agency as president of its Midwest area in 2021 after 31 years at PCL Development and was elevated to the COO position final March. He began his profession as a discipline engineer earlier than finally making his method as much as AP’s C-suite. He’ll proceed to function COO by way of the transition interval.

The management shift comes as the corporate closes what it tasks to be a powerful fiscal 12 months in February. The agency predicted it can go $1.5 billion in complete income with 87% of backlog secured for subsequent fiscal 12 months. It additionally grew its workforce by 25% through the 12 months.

Going ahead, AP’s technique will stay unchanged, Hendrickson instructed Development Dive by way of e-mail.

“We are going to prioritize development within the markets and sectors the place now we have deep experience, sturdy consumer relationships, and a confirmed monitor document,” Hendrickson stated. “That features safe amenities, healthcare, training, superior manufacturing, and municipal work throughout all areas.”

Different contractors are additionally executing on succession plans to start 2026. Brentwood, Tennessee-based Bell Development, for instance, added 4 new owners to its ownership team. In the meantime, Portland, Oregon-based Fortis Construction named Andrea Weisheimer as its new president.