McCarthy Selects Next CEO
- Aug 14, 2019
McCarthy Holdings has selected Raymond Sedey as the company’s next chief executive officer. Sedey will assume the new position on Jan. 1, 2020, and will replace current CEO Michael Bolen, who will stay on in the role of chairman of the McCarthy board of directors.
Sedey has been with McCarthy since 2000 when he started as a project engineer in the firm’s Southwest Region. He transitioned through several key roles over the years including project superintendent, manager and director, and was appointed vice president of operations for the Las Vegas office in 2009. In his next promotion at McCarthy, in 2012, Sedey was named executive vice president in charge of business operations in Nevada, New Mexico and Colorado.
In 2015, Sedey was tasked to lead the McCarthy Texas Region as regional president, while in 2018 he took a leading role in combining operations of the McCarthy Southeast Division and Texas Region, which resulted in forming a new Southern Region. Sedey took over as regional president of the new region.
Second non-family member CEO
Sedey will be the second non-family member to hold the position within the construction company—since it became employee-owned—and the third CEO in the last 50 years. Founded in 1864 as a family-owned business, McCarthy converted to 100 percent employee ownership in 2002, while also becoming one of the largest Employee Stock Ownership Plan companies nationwide.
McCarthy’s next CEO also serves as the executive sponsor for the company’s national craft initiative and he is an instructor and mentor in McCarthy’s leadership development program. Furthermore, Sedey is involved in numerous organizations such as the Dallas Regional Chamber, American Heart Association, Montana State University College of Engineering advisory board and Make-A-Wish Foundation, among others.
Sedey holds a bachelor’s degree in construction engineering from Montana State University-Bozeman. He will maintain an office in Dallas as well as at the firm’s St. Louis corporate headquarters.