Dive Brief:
- Mortenson Construction announced Thursday that CEO Tom Gunkel will retire at the end of 2016, and current President Dan Johnson will take over the chief executive position on Jan. 1, 2017.
- Johnson, a 30-year veteran with the company, was involved with launching Mortenson's rapidly expanding renewable energy division, as well as helping to grow the company's real estate development arm.
- Gunkel has served as CEO since 2008, and he will remain on the company's Board of Directors after he retires. Johnson will also keep his President title when he assumes the CEO role.
Dive Insight:
Mortenson has grabbed attention for its growing renewable energy construction sector and its high-profile sports stadium and arena projects. The builder recently wrapped up construction on the $1.1 billion Vikings U.S. Bank Stadium, and it broke ground on the $524 million Milwaukee Bucks arena in June. It will also build the $120 million Minnesota United soccer stadium and the $1 billion Golden State Warriors arena with Clark Construction.
Late last year, Mortenson became one of only two Minnesota contractors to enter the large-scale battery storage business when it formed a new energy storage business unit. Company representatives said that within the new division, they see an opportunity to install battery storage for sports facilities and corporate and institutional buildings.
In an interview with Construction Dive earlier this year, Johnson discussed why he considers Mortenson's renewable energy division "the most exciting part" of its business, as well as his experience seeing the industry evolve throughout his career from a "rip-and-read, competitive bid kind of industry" to a "professional services, very sophisticated, technology-driven, solutions-driven business."
