Gilbane Update 06/19/24

Gilbane, Inc. Announces Leadership Succession Plan

Gilbane, Inc., the parent organization to Gilbane Building Company and Gilbane Development Company, has announced that the board of directors has appointed Edward T. Broderick, a fifth-generation member of the Gilbane family and a 42-year company veteran with deep expertise in building, development, and industry innovation, as chief executive officer, effective October 1, 2024. Broderick who currently serves as President and CEO of Gilbane Development Company, succeeds Thomas F. Gilbane, Jr. as he prepares to retire from his longstanding dual role as Chairman and CEO of Gilbane, Inc.

As part of its succession plan, the board also named current board director Steven T. Halverson, the retired CEO and chair of The Haskell Company, a leading diversified design-build firm, as non-executive chair of the Gilbane, Inc. board of directors, effective January 1, 2025, assuming the board chair position from Gilbane, Jr.

“Gilbane is a family-owned company with a record of delivering results for clients and partners in providing world-class construction and real estate development services,” said Tom Gilbane, Jr., who has worked for the company full-time since 1970. “We have been an industry leader for 150 years, known for our culture of caring and putting people first, and I am proud to have played a part in that legacy. With Ed at the helm and a deep bench of talent at every level of Gilbane–we are poised for another 150 years of opportunity, innovation, and growth. The board will be shepherded by a great strategic leader in Steve Halverson, who brings deep experience in construction, real estate, engineering, and manufacturing.”

Tom has been the driving force behind Gilbane Building Company’s substantial growth, expansion beyond the U.S., and market sector diversification. The company now includes more than 45 U.S. and international offices with an annual revenue of $7.3 billion. Among his many achievements are civic and industry leadership, innovations, and advancements within the construction sector, including safety and helping to found Construction Safety Week, promoting diversity and inclusion through the creation of Construction Inclusion Week, and championing the transition from hard hats to helmets.

“It’s an exciting time for Gilbane as we are at the forefront of both the construction and real estate industries,” said Ed Broderick. “A commitment to delivering value for our people, our clients, partners, and communities is embedded in our vision for continued success. I am grateful to Tom for his guidance and support as I step into this role, and for modeling the kind of leadership I hope to provide as we collectively uphold the Gilbane legacy and accelerate growth in service of our clients. I look forward to working with Adam Jelen as he drives opportunity and a bright future for Gilbane Building Company.”

Edward T. Broderick

Currently the President and CEO of Gilbane Development Company, Broderick began his career as a laborer and later a management trainee with Gilbane Building Company. His 42 years of experience encompasses every sector of the building development and construction industries, from engineering and development to contracts and financial modeling. Prior to being named CEO in 2018, he held the positions of VP of Operations, Executive Vice President, and President in the company.

“At Gilbane, our greatest strength is our people, who are committed to excellence and deeply engaged in serving our communities. We care–about our clients, about our communities, and about one another–and nowhere is that more evident than in Ed’s leadership,” said Adam Jelen, President and CEO, Gilbane Building Company.

Mr. Broderick holds a Master of Business Administration degree in finance from Providence College, a Bachelor of Science degree from Manhattan College, and completed an advanced executive management program at the University of Chicago Booth School of Business. Among his notable projects are the development of dynamic mixed-use community Madison Yards in Wisconsin and The Peninsula in New York, which is transforming a former youth detention center into a vibrant new community.

Mr. Broderick is married to Sheila Broderick, with whom he shares two sons, one daughter, and one granddaughter.

Steven T. Halverson

“From real estate solutions and property management to building some of the most complex and dynamic projects in the world, this is an extraordinarily exciting time for Gilbane,” said Halverson. “I look forward to working with our board to guide Gilbane in its continued growth, reaching new heights in project delivery and real estate development services.”

Halverson added, “I want to thank Tom for his exceptional leadership and commitment to Gilbane’s success and to strengthening the entire construction industry. He is an incredible leader who inspires everyone around him with his caring commitment.”

During Halverson’s tenure as CEO of Haskell, the company grew to become a multibillion enterprise, with several key acquisitions and investments in technology and innovation, and a focus on safety and core values guiding decision-making.

Mr. Halverson is an experienced corporate board director and active industry and civic leader. He currently serves on the boards of CSX Corporation, GuideWell Mutual Holding Company, InProduction, and Acuren. Mr. Halverson has chaired the Construction Industry Roundtable, the Design Build Institute of America, and the National Center for Construction Education and Research and was elected to the National Academy of Construction.

Mr. Halverson received a Bachelor of Arts from St. John’s University and earned his Juris Doctor from American University. He is a Fellow and Certified Director of the National Association of Corporate Directors. He received certification in ESG governance from Berkeley Law School and has completed executive business education programs at Dartmouth University and The Wharton School.

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