Skanska has named Richard Kennedy CEO of Skanska USA and executive vice president of parent company, Skanska AB. Kennedy previously served as president of Skanska’s USA Building unit. He takes over the reins from Anders Danielsson, who was tapped as president and CEO of Skanska AB this past December. Currently undergoing a restructuring, the firm plans to dispose of some of its less profitable businesses which will result in the layoffs of approximately 3,000 employees. The company indicated on Wednesday that it plans to pull out of the power industry in the U.S. but will focus on other infrastructure projects. The firm reported that its operating profit in 2017 was $657 million, down from the $797 million projected by analysts, the Financial Times reported.
