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For Mortenson, it is about planning.
The contractor based in Minneapolis has jumped five points this year in the country List of major revenue contractorsWith $ 6.7 billion by 2024 income gaining the signature 22nd place.
If you ask the CEO Derek Cunz, the key to the growth of the 70-year-old company depends on the header and staying on the course. This means continuing to invest in new sectors.
This year, the firm began a division focused on serving the customers of the fiber optic data center and structured wiring solutions. The firm also hires 300 new university graduates and 300 inmates this year.
Here, Cunz talks about construction of construction on the growth of the company, which focused on an uncertain environment and the success of the long -term market.
The following has been edited for brevity and clarity.
Construction division: When we last talkedHe had just been CEO. How were the first six months in the captain’s chair?
Derek Cunz: I think we have been so flat, working in Mortenson for 29 years, and then two years old as President who was appointed CEO. We had a very thoughtful and planned transition. It made it very easy for me to sit through all types of processes to run the company. But there is absolutely something that changes when the Buck stops with you.
Therefore, I would say that I have felt the responsibility of the role. I had a lot of time to prepare -me, which is impressive. I think about the management of the culture and the care of the people of Mortenson, and now I have this weight on my shoulders. I wake up thinking about this every day, our teams, our people and the families they represent. What has changed is how I feel.
But the business is great. We hire more people than ever this year. And therefore, there are many positive things in the organization. So it’s not a bad time.
How much does this planned and future approach that strengthen the Mortenson business?
I think when we look at what we experienced last year and where the company goes today, it is 100% due to a long -term view of our commercial strategy, where we invest in a new business a year. We are constantly looking downstream and we think about where things go and where we want to invest.
It is basically a diversified market strategy and a long vision. So it does not react to what happens on the market today, but later. And the things they pay now are things we have invested in for many years. And frankly, some years could have been dropped in this market, but we followed the course because we have a long -term strategy.
What are some of the markets that you have been the course that have contributed to recent success?
A good example of long -term strategy would be our wind business. We have been to the wind business for 30 years, and 30 years ago it was very strip, not main in terms of energy generation. But it is presented as a very viable, profitable and competitive way to generate energy.
There have been ups and downs with the passage of time in this business, but we stayed with it because we believed in it. And now we are in a time in the country where we need a lot of power and wind energy is very competitive. Again, maintaining an industry and slowly seeing investment in technology, investment in efficiency and is now a competitive form of energy generation. We have been long enough and made the investments here.
As it is intensive in capital, it is difficult to learn, it is difficult to enter. But we have been enough time to be in the right position to succeed.
You mentioned not being reactive. How can it be managed that when things seem to change constantly, especially when a new administration comes in and begins a major pivot?
I think for us it is always about serving our customers. Therefore, trying to have the maximum possible knowledge of what is happening in the market, so that we can react -to provide the highest value through the dynamic markets that exist, which have many options.
You know, we have invested in a function of the supply chain so that we could be more agile as the supply chain changes. We have invested a lot in our talent and development of the people. So we are growing the workforce of the future by investing in people. And again, these are long -term investments, but they help us to the storm as things change in front of us.
How do you do the artificial intelligence factor in your business planning?
I mean, we are in the data center’s business, so it has been good for business in terms of growth in the AI, which drives a lot of construction in the data center business. This has also helped us grow. We have been in the data center business for a long time. So we were already in this business and, again, we did not react when the IA was presented, we were already attentive to our customers.
I think there will be a faster change than ever with the AI that is now used in all industries. And I would say that for us you will have to deal with agility, be flexible, invest in new tools and technology and be prepared for the change that is reached. Because it will change.
One thing that is absolutely safe is that the rhythm of change will increase and the change will happen. And I would say it is something that we are built as an organization.
What are you pessimistic about?
I think uncertainty generates a slowdown in investment. I think we have to reach the other side of commercial policy so that we have more stability. Because what we are seeing is that customers expect stability before making investment decisions. The dynamic situation with the rates causes uncertainty, which causes customers to wait before making investments.
And I think there is money that seeks to invest in our strong economy, and I think uncertainty is causing it to be reduced.
