LOWELL, MA--(Marketwired - Sep 16, 2016) - TRC Companies, Inc. (NYSE: TRR) announced today that Jim Stephenson has been promoted to Chief Strategy Officer. Previously, Stephenson served as Senior Vice President of Corporate Planning and Development for the Company. In his new role, he will be broadly responsible for developing, communicating, executing and sustaining strategic initiatives in support of the Company's long-term profitable growth.
"During Jim's time with TRC, he has driven our mergers and acquisitions strategy, leading 11 acquisitions and integrations that contributed to the Company's five-year compounded annual growth of revenue and EBITDA of more than 14% and 30%, respectively," said Chris Vincze, TRC's Chairman and Chief Executive Officer. "As Chief Strategy Officer, Jim's pursuit of new strategic acquisitions and additional investments in organic growth initiatives will advance TRC as a leading solution provider to our clients in the Power, Oil and Gas, Transportation and Environmental markets."
Stephenson has been part of the TRC executive team for more than nine years. He and his team designed and supported the implementation of TRC's budgeting and forecasting process, operational metrics and incentive program. Prior to joining TRC, he helped champion the Company's successful financial restructuring as a consultant.
"I believe that we are unmatched in the breadth of our services and the depth of our expertise, as we work with clients to achieve their goals while building a company culture that attracts the best talent," Stephenson said. "I've been proud to be a part of TRC's unprecedented profitable growth since I joined the company, and I look forward to continuing to position TRC as one of the premier engineering and construction firms in the years to come."
Stephenson holds an MBA in International Business & Finance from the Kogod School of Business at American University and a B.A. in Business Management from Clark University.
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, environmental consulting and construction management firm that provides integrated services to the power, environmental, infrastructure and oil and gas markets. TRC serves a broad range of commercial, industrial and government clients, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information, visit TRC's website at www.TRCsolutions.com.
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as "may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC's future expectations, contain projections of the Company's future results of operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC's services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; the availability and adequacy of insurance; capital availability and project investment by TRC's clients; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See the risk factors and additional discussion in TRC's Annual Report on Form 10-K for the fiscal year ended June 30, 2016, and other factors included from time to time in the Company's other filings with the Securities and Exchange Commission.