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Primoris Services Corporation Announces Leadership Changes

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Primoris Services (NYSE: PRIM) has announced significant leadership changes. David King, Chairman and former CEO, has been appointed as Interim President and CEO, succeeding Tom McCormick who will depart effective March 20, 2025. The Board has initiated a search process for a permanent CEO, considering both internal and external candidates.

Additionally, Jeremy Kinch, previously Chief Operations Support Officer, has been promoted to Chief Operating Officer with immediate effect. The company emphasized that McCormick's departure is not related to Primoris's financial statements or business performance.

Primoris Services operates as a leading provider of critical infrastructure services to utility, energy, and renewables markets across the United States and Canada, specializing in engineering, construction, and maintenance services for utility-scale solar, renewables, power delivery, communications, and transportation infrastructure projects.

Primoris Services (NYSE: PRIM) ha annunciato importanti cambiamenti nella leadership. David King, Presidente e ex CEO, è stato nominato Presidente e CEO ad interim, succedendo a Tom McCormick, che lascerà l'incarico a partire dal 20 marzo 2025. Il Consiglio ha avviato un processo di ricerca per un CEO permanente, considerando sia candidati interni che esterni.

Inoltre, Jeremy Kinch, precedentemente Chief Operations Support Officer, è stato promosso a Chief Operating Officer con effetto immediato. L'azienda ha sottolineato che la partenza di McCormick non è correlata ai bilanci finanziari di Primoris o alle performance aziendali.

Primoris Services opera come fornitore leader di servizi infrastrutturali critici per i mercati delle utility, dell'energia e delle energie rinnovabili negli Stati Uniti e in Canada, specializzandosi in servizi di ingegneria, costruzione e manutenzione per progetti infrastrutturali di energia solare su larga scala, rinnovabili, distribuzione di energia, comunicazioni e trasporti.

Primoris Services (NYSE: PRIM) ha anunciado cambios significativos en el liderazgo. David King, Presidente y ex CEO, ha sido nombrado Presidente y CEO interino, sucediendo a Tom McCormick, quien dejará su puesto a partir del 20 de marzo de 2025. La Junta ha iniciado un proceso de búsqueda de un CEO permanente, considerando tanto candidatos internos como externos.

Además, Jeremy Kinch, anteriormente Chief Operations Support Officer, ha sido ascendido a Chief Operating Officer con efecto inmediato. La empresa enfatizó que la salida de McCormick no está relacionada con los estados financieros de Primoris ni con el rendimiento empresarial.

Primoris Services opera como un proveedor líder de servicios de infraestructura crítica para los mercados de servicios públicos, energía y energías renovables en los Estados Unidos y Canadá, especializándose en servicios de ingeniería, construcción y mantenimiento para proyectos de infraestructura de energía solar a gran escala, energías renovables, distribución de energía, comunicaciones y transporte.

프리모리스 서비스 (NYSE: PRIM)는 중요한 리더십 변화를 발표했습니다. 데이비드 킹이 의장 겸 전 CEO로서 톰 맥코믹의 후임으로 임시 사장 겸 CEO로 임명되었습니다. 맥코믹은 2025년 3월 20일부로 퇴사할 예정입니다. 이사회는 내부 및 외부 후보를 고려하여 영구 CEO를 찾는 과정을 시작했습니다.

또한, 제레미 킨치가 이전의 운영 지원 책임자로부터 즉시 운영 책임자로 승진했습니다. 회사는 맥코믹의 퇴사가 프리모리스의 재무 제표나 사업 성과와 관련이 없다고 강조했습니다.

프리모리스 서비스는 미국과 캐나다의 유틸리티, 에너지 및 재생 가능 시장에 중요한 인프라 서비스를 제공하는 선도적인 공급업체로, 유틸리티 규모의 태양광, 재생 가능 에너지, 전력 전달, 통신 및 운송 인프라 프로젝트를 위한 엔지니어링, 건설 및 유지보수 서비스를 전문으로 하고 있습니다.

Primoris Services (NYSE: PRIM) a annoncé des changements significatifs dans sa direction. David King, Président et ancien CEO, a été nommé Président et CEO par intérim, succédant à Tom McCormick qui quittera ses fonctions à compter du 20 mars 2025. Le Conseil a lancé un processus de recherche pour un CEO permanent, en considérant à la fois des candidats internes et externes.

De plus, Jeremy Kinch, anciennement Chief Operations Support Officer, a été promu au poste de Chief Operating Officer avec effet immédiat. L'entreprise a souligné que le départ de McCormick n'est pas lié aux états financiers de Primoris ni à la performance commerciale.

Primoris Services opère en tant que fournisseur leader de services d'infrastructure critiques pour les marchés des services publics, de l'énergie et des énergies renouvelables aux États-Unis et au Canada, se spécialisant dans les services d'ingénierie, de construction et de maintenance pour des projets d'infrastructure à grande échelle dans le domaine de l'énergie solaire, des énergies renouvelables, de la distribution d'énergie, des communications et des transports.

Primoris Services (NYSE: PRIM) hat bedeutende Veränderungen in der Führung angekündigt. David King, Vorsitzender und ehemaliger CEO, wurde zum Interimspräsidenten und CEO ernannt und folgt auf Tom McCormick, der zum 20. März 2025 ausscheiden wird. Der Vorstand hat einen Suchprozess für einen dauerhaften CEO eingeleitet, wobei sowohl interne als auch externe Kandidaten in Betracht gezogen werden.

Darüber hinaus wurde Jeremy Kinch, zuvor Chief Operations Support Officer, mit sofortiger Wirkung zum Chief Operating Officer befördert. Das Unternehmen betonte, dass McCormicks Ausscheiden nicht mit den Finanzberichten oder der Geschäftsentwicklung von Primoris in Zusammenhang steht.

Primoris Services agiert als führender Anbieter von kritischen Infrastrukturdiensten für die Versorgungs-, Energie- und Erneuerbare-Energien-Märkte in den Vereinigten Staaten und Kanada und ist auf Ingenieur-, Bau- und Wartungsdienste für Infrastrukturprojekte im Bereich großflächige Solarenergie, erneuerbare Energien, Energieverteilung, Kommunikation und Transport spezialisiert.

Positive
  • Immediate leadership transition plan in place with experienced former CEO stepping in
  • Internal promotion of Jeremy Kinch demonstrates strong succession planning
  • Departure unrelated to financial or business performance issues
Negative
  • Unexpected CEO departure creates temporary leadership uncertainty
  • Potential disruption during transition period until permanent CEO is appointed

DALLAS--(BUSINESS WIRE)-- Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) today announced that David King, Chairman and our prior Chief Executive Officer, has been named Interim President and Chief Executive Officer. David will succeed Tom McCormick, who will be separating from the Company effective March 20, 2025. The Board is conducting a search process to identify a permanent CEO, which will include internal and external candidates.

In addition, the Company announced that Jeremy Kinch, Chief Operations Support Officer, has been promoted to Chief Operating Officer, effective immediately.

Lead Independent Director Stephen C. Cook said, “We have a high degree of confidence in David’s ability to lead the Company during this period of transition and appreciate his willingness to step into this important role.” He continued, “We congratulate Jeremy on his promotion to Chief Operating Officer. Since joining the Company in 2018, Jeremy has taken on increasingly more significant roles at the Company and is well-positioned to assume this new role.”

“The Board thanks Tom for his many contributions to the Company,” said David King. Mr. McCormick’s separation is unrelated to the Company’s financial statements or financial or business performance.

About Primoris

Primoris Services Corporation is a leading provider of critical infrastructure services to the utility, energy, and renewables markets throughout the United States and Canada. Built on a foundation of trust, we deliver a range of engineering, construction, and maintenance services that power, connect, and enhance society. On projects spanning utility-scale solar, renewables, power delivery, communications, and transportation infrastructure, we offer unmatched value to our clients, a safe and entrepreneurial culture to our employees, and innovation and excellence to our communities. To learn more, visit www.prim.com and follow us on social media at @PrimorisServicesCorporation.

Forward-Looking Statements

This press release contains certain forward-looking statements, including about the anticipated search process, that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “intends”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “targets”, “will”, “would” or similar expressions. Applicable risks and uncertainties include, among others, decisions made by the Board and risks identified in Part I, Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and the Company’s other filings with the U.S. Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Company Contact

Ken Dodgen

Executive Vice President, Chief Financial Officer

(214) 740-5608

kdodgen@prim.com

Blake Holcomb

Vice President, Investor Relations

(214) 545-6773

bholcomb@prim.com

Source: Primoris Services Corporation

FAQ

When will Tom McCormick leave his position as CEO of Primoris (PRIM)?

Tom McCormick will separate from Primoris Services effective March 20, 2025.

Who is the interim CEO of Primoris (PRIM) following McCormick's departure?

David King, the Chairman and former CEO, has been named Interim President and Chief Executive Officer.

What is Jeremy Kinch's new role at Primoris (PRIM)?

Jeremy Kinch has been promoted from Chief Operations Support Officer to Chief Operating Officer, effective immediately.

Is Tom McCormick's departure from Primoris (PRIM) related to financial performance?

No, the company explicitly stated that McCormick's separation is unrelated to the company's financial statements or financial or business performance.

How is Primoris (PRIM) conducting its search for a permanent CEO?

The Board is conducting a search process that will consider both internal and external candidates for the permanent CEO position.
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