Bowman Consulting Announces Executive Promotions and Contract Renewal
July 09 2024 - 3:15PM
Business Wire
Bowman Consulting Group Ltd. (“the Company” or “Bowman”)
(NASDAQ: BWMN), a national engineering services firm delivering
infrastructure solutions to customers who own, develop and maintain
the built environment, announced today that its Board of Directors
has approved the promotion of two senior executives and ratified a
new four-year contract with its chief financial officer.
- Michael Bruen, who served as the Company’s chief operating
officer, has been promoted to president, a role previously held by
Gary Bowman, who retains the titles of chief executive officer and
chairman.
- Dan Swayze, who served as executive vice president and division
manager, has been promoted to the role of chief operating officer.
In connection with the promotion, Swayze becomes an executive
officer of the Company.
- Bruce Labovitz, executive vice president and chief financial
officer has entered into a new four-year contract with the Company
which runs through June 30, 2028.
“These promotions and the extension of Bruce’s contract
underscore our commitment to internal leadership development and to
ensuring continuity and stability among our executive team,”
commented Gary Bowman, chairman and chief executive officer of
Bowman Consulting. “With respect to Mike and Dan, this is a natural
evolution in our leadership structure, and I remain fully committed
to an active operational role as chief executive officer.”
“The directors were unanimously in favor of retaining Bruce’s
services for another four years,” commented Jim Laurito, chairman
of Bowman’s Compensation Committee. “Bruce’s contributions to
Bowman have been exemplary, and we are pleased to be able to
advance our strategic initiatives with continuity in the leadership
of our financial and investor relations roles. From an operations
perspective, there are several critical initiatives on the horizon,
and we are reassured by the elevation of Dan to our senior
executive team and by the knowledge that Bowman will continue to
benefit from Mike’s long-standing leadership and experience with
our business as we advance toward our goals.”
Mike Bruen has been with Bowman for over 25 years holding
various leadership positions including serving as chief operating
officer over the past 15 years. Mike serves as a member of the
Company’s Board of Directors. In this new role, Mike will oversee
strategic planning, resource allocations, acquisition integration
and business development.
“Mike is our longest serving senior leader and he knows every
aspect of our operation inside and out,” added Bowman. “Mike’s
leadership inspires everyone in the company to give their best
effort every day for our clients. I am excited about this next
chapter in Mike’s career and the focus it will afford him in
advancing our strategic growth initiatives.”
Dan Swayze joined Bowman in 2022 as executive vice
president of energy services. Since that time, Dan has grown within
Bowman’s leadership team to the role of division manager with
primary oversight of the Company’s transportation, MEP, and
renewables practices. Prior to joining Bowman, Dan was chief
operating officer at Onyx Renewable Partners L.P., a national
renewable energy developer and financier established by Blackstone
in 2014. In this position, he led the engineering, procurement,
construction and asset management divisions of the New York
City-based company. During his nearly six years at Onyx, Swayze
also managed the engineering division, where he supported the
implementation of the design of renewable energy projects from
development to construction. As chief operating officer at Bowman,
Dan will be responsible for the oversight of all professional
services operations.
“Dan is the natural choice to succeed Mike as our chief
operating officer,” added Bowman. “Dan has the breadth of knowledge
and leadership acumen to take the reins and be effective
immediately. He is a natural leader with the significant financial
and managerial expertise needed to drive results in the COO role. I
am excited about our future with Dan at the helm of our day-to-day
operations.”
Bruce Labovitz joined Bowman in 2013 and has been key to
the Company’s growth since that time. His leadership and strategic
financial acumen were pivotal to the success of Bowman’s initial
public offering (“IPO”) in May 2021. Throughout his tenure,
Labovitz has played a vital role in shaping the Company’s financial
strategies, successfully transitioned Bowman to a public reporting
company, contributed to the leadership team across all disciplines,
played an instrumental role in the execution and integration of
multiple successful acquisitions which since the IPO have added
over $150 million in revenue, led investor relations and corporate
communications, and driven shareholder value through the addition
of over $425 million in market capitalization since the IPO.
Labovitz was recently recognized as the Public Company CFO of the
Year by the Northern Virginia Technology Council for outstanding
financial leadership and oversight.
“Bruce is an invaluable member of our leadership team,” added
Bowman. “His financial expertise and foresight have enabled our IPO
and subsequent acquisition strategy and have secured our sound
financial foundation allowing us to create value for our
shareholders and employees. We are delighted that Bruce has
committed to continuing to serve as our CFO. As we prepare to
transition from emerging growth company status, his leadership will
be crucial to successfully navigating this next phase of
growth.”
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is a national
engineering services firm delivering infrastructure solutions to
customers who own, develop and maintain the built environment. With
over 2,200 employees in more than 90 locations throughout the
United States, Bowman provides a variety of planning, engineering,
geospatial, construction management, commissioning, environmental
consulting, land procurement and other technical services to
customers operating in a diverse set of regulated end markets.
Bowman trades on the Nasdaq under the symbol BWMN. For more
information, visit bowman.com or investors.bowman.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240709086489/en/
Investor Relations Contacts: Bruce Labovitz
blabovitz@bowman.com
Betsy Patterson ir@bowman.com
General Media Contact: Christina Nichols
cnichols@bowman.com
Bowman Consulting (NASDAQ:BWMN)
Historical Stock Chart
From Jul 2024 to Aug 2024
Bowman Consulting (NASDAQ:BWMN)
Historical Stock Chart
From Aug 2023 to Aug 2024