Tutor Perini Announces Chief Financial Officer Transition

Tutor Perini Corporation, a leading civil and building construction company, announced that Michael Kershaw, its executive vice president and chief financial officer, will be retiring from the company. Kershaw will remain employed by Tutor Perini to assist in the transition of responsibilities to his successor. Kershaw joined the company in September 2011 and has been instrumental in integrating and improving the company’s accounting and financial reporting systems, negotiating enhanced credit facilities, and implementing a successful investor relations program.

At the same time, Tutor Perini announced that it has entered into a letter agreement with Gary Smalley to succeed Kershaw as the executive vice president and CFO. Smalley is expected to join the company no later than September 1 and, at that time, will be appointed the principal financial officer.

Smalley has been senior vice president and controller of Fluor Corporation since March 2008 and, since October 2014, concurrently served as group CFO for one of Fluor's business segments. Fluor Corporation is a global engineering and construction firm that designs and builds some of the world's most complex projects, creating and delivering innovative and integrated solutions for its clients in engineering, procurement, fabrication, construction, maintenance, and project management on a global basis.

Ronald Tutor, chairman and CEO of Tutor Perini, said, “We are pleased to welcome Gary to our executive management team and look forward to working with him to continue driving the company’s growth. In addition, I would like to express my sincere thanks to Mike for his dedicated service to the company and wish him well in his future retirement.”

Prior to his current roles, Smalley was employed by Fluor as vice president of internal audit and, since joining Fluor in 1991, held a variety of other financial management positions in Australia, Chile, Mexico, and the United States. Before joining Fluor, he held audit positions with Ernst & Young and J.P. Stevens and Company.