After a multi-year succession process, McCarthy Holdings, Inc., selected Raymond J. Sedey, 42, as the firm’s next CEO. On Jan. 1, 2020, Sedey will assume this position, currently held by Michael D. Bolen, who will continue as chairman of the McCarthy board of directors.

Founded as a family-owned business in 1864, McCarthy transitioned to 100 percent employee ownership in 2002. McCarthy is the nation’s 12th largest domestic general contractor (Engineering News-Record, May 2019) with 2018 revenues exceeding $3.9 billion. Sedey will be the second non-family member to hold the McCarthy CEO position since the firm became employee-owned, and its third CEO in the last 50 years. Sedey is expected to maintain an office in Dallas as well as in the McCarthy Corporate Headquarters in St. Louis.