'POWER shift': CEO retires after 29 years at iconic contractor

'POWER shift': CEO retires after 29 years at iconic contractor

On Dec. 30. Power Construction CEO Jeff Karp sent the following note to his employees:

While I look forward to days with less pressure and things to do, I will also miss the excitement of life at Power Construction.  I am deeply gratified to note that this is such a great time for our company.  We will see our company revenues surpass a billion dollars for the first time in our history and there is a solid list of projects in the pipeline!  What is most exciting about this is not the revenue number itself, but the way we have come to be here. 

For us, it has never been, nor will it ever be, about the numbers.  That’s just not who we are. 

Coming out of the recession a few years ago, we were poised to build upon our strengths because of the way we had managed through the recession.  We did not make cuts in our staffing or implement wholesale budget cuts across the company, as other firms did.  We made strategic decisions and tightened our belts where possible.  As we saw the recovery shaping up, we reinvested in our training efforts, in recruiting top talent, in rebooting our strategic planning efforts, and relocating our company headquarters to improve collaboration, technology, and our working environment to meet today’s demands. 

“As we saw the recovery shaping up, we reinvested in our training efforts, in recruiting top talent, in rebooting our strategic planning efforts, and relocating our company headquarters to improve collaboration, technology, and our working environment to meet today’s demands.”

— CEO Jeff Karp (ret.)

All of which have contributed to making us stronger and better as a company.  At the same time, everyone stepped-up to the increased challenges to make sure that we successfully took on the workload demands.  As I have said on many occasions, I could not be more proud of your efforts!  Thank you for all you have done to make Power such a great company!

It is the Nature of Power that is the defining measure of Power Construction.  It helps to establish how we, as co-workers, act and what makes Power so unique.  It is a measure by which our customers and stakeholders know what to expect…from all of us.  I don’t know of any other company that can point to such compelling beliefs.  Nor where every person lives up to its challenge. 

It reminds me of a recent conversation I had with a client we have done multiple projects with who said he always gets the same commitment and excellent results from the teams we put on their projects.  Even though they might be different people, the actions and results are consistent.  To me, that says it all!

I will always cherish the relationships with the clients, subcontractors, and architects that has made work so rewarding…and challenging at times.  And the memories of the many exciting projects I was fortunate to be part of.   But most of all, for the relationships with you that made every day for me so personally and professionally enjoyable.

                                                                          - Jeff