Sterling Announces the Retirement of Charles R. Patton from the Board of Directors

Rhea-AI Summary

Sterling Infrastructure (STRL) has announced the retirement of Charles R. Patton from its Board of Directors, effective September 1, 2024. Patton has served on the Board since 2013 and is a member of the Corporate Governance & Nominating Committee and the Compensation Committee. Thomas M. White, Chair of Sterling's Board, expressed gratitude for Patton's 11 years of service, highlighting his significant contributions and dedication to the company. White emphasized Patton's role in guiding Sterling through its transformation and growth, acknowledging his expertise and engagement. The Board extended well wishes to Patton for his retirement.

Positive

• Long-term board member (11 years) indicates stability and continuity in leadership
• Acknowledgment of Patton's role in guiding the company's transformation and growth suggests positive contributions

Negative

• Loss of experienced board member may impact corporate governance and decision-making
• Potential gap in expertise on Corporate Governance & Nominating and Compensation Committees

THE WOODLANDS, Texas, Aug. 28, 2024 /PRNewswire/ -- Sterling Infrastructure, Inc. (NasdaqGS: STRL) ("Sterling" or "the Company") today announced that Charles R. Patton will retire from the company's Board of Directors (the "Board") effective September 1, 2024. Mr. Patton has served on the Board since 2013 and is a member of the Corporate Governance & Nominating Committee and the Compensation Committee.

Thomas M. White, Chair of Sterling's Board of Directors, commented, "On behalf of Sterling's Board, I would like to thank Charles for his many years of service. We are deeply grateful for his significant contributions and dedication to the Company over the past 11 years. His expertise and engagement played an important role in guiding Sterling through its transformation and growth. We wish him all the best in his retirement."

About Sterling

Sterling operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands. E-Infrastructure Solutions provides advanced, large-scale site development services for manufacturing, data centers, e-commerce distribution centers, warehousing, power generation and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concrete work and plumbing services for new single-family residential builds. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society's quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.

Joe Cutillo, CEO, "We build and service the infrastructure that enables our economy to run,
our people to move and our country to grow."

Important Information for Investors and Stockholders

Cautionary Statement Regarding Forward-Looking Statements

This press release contains statements that are considered forward-looking statements within the meaning of the federal securities laws. Any such statements are subject to risks and uncertainties, including those risks identified in the Company's filings with the Securities and Exchange Commission. Accordingly, such statements should be considered in light of these risks. The forward-looking statements speak only as of the date made, and we undertake no obligation to publicly update or revise any forward-looking statements for any reason, whether as a result of new information, future events or developments, changed circumstances, or otherwise, notwithstanding any changes in our assumptions, changes in business plans, actual experience or other changes. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.

Sterling Infrastructure Contacts:

Noelle Dilts, VP of Investor Relations and Corporate Strategy
281-214-0795
noelle.dilts@strlco.com 

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/sterling-announces-the-retirement-of-charles-r-patton-from-the-board-of-directors-302232269.html

SOURCE Sterling Infrastructure, Inc.

FAQ

When will Charles R. Patton retire from Sterling Infrastructure's Board of Directors?

Charles R. Patton will retire from Sterling Infrastructure's (STRL) Board of Directors effective September 1, 2024.

How long has Charles R. Patton served on Sterling Infrastructure's Board?

Charles R. Patton has served on Sterling Infrastructure's (STRL) Board of Directors since 2013, a total of 11 years.

What committees was Charles R. Patton a member of at Sterling Infrastructure?

Charles R. Patton was a member of the Corporate Governance & Nominating Committee and the Compensation Committee at Sterling Infrastructure (STRL).

Who commented on Charles R. Patton's retirement from Sterling Infrastructure's Board?

Thomas M. White, Chair of Sterling Infrastructure's (STRL) Board of Directors, commented on Charles R. Patton's retirement.