Minneapolis-based Ryan Companies US, Inc. announced today that president and chief executive officer Pat Ryan will step aside from his current duties June 1 to become chairman of the company’s board of directors.
Brian Murray will assume the chief executive officer position. Along with owners Jeff Smith and Mike McElroy, Murray has helped lead Ryan’s day-to-day operations for the last five years. As part of the transition, Smith will take on the role ofpPresident and McElroy will be the company’s chief investment officer. Tim Gray, who currently chairs the company’s board of directors, will assume the title of chairman emeritus.
“I’ve been blessed to work alongside phenomenal people for 35 years,” Ryan said, in a statement. “I can’t begin to express my appreciation for that privilege, but I can say that I’m so pleased to be handing off executive responsibilities to a tremendous team of leaders. Brian, Jeff and Mike are smart, capable, experienced and hardworking. And most importantly, they understand and live our culture which, in the final analysis, is what differentiates us from our competitors.”
The announcement is part of a succession plan carefully developed over several years with the leadership of Ryan’s board of directors.
Ryan said he will remain involved in the company with a focus on helping in capital markets and real estate development and spending more time with key customers.
This transition will mark the first time in Ryan’s 80-year history that non-family members will lead the company.
Murray joined the company in 2009, and is currently the chief operating officer and chief financial officer leading Ryan’s construction operations and shared services functions. Smith has been with the company over 30 years and is currently the National President overseeing its 15 regional offices and leading client development efforts. McElroy is currently President of Real Estate Investments, leading real estate management and capital markets groups and has been with the company nearly 20 years.
Murray is a current board member of PrairieCare Child & Family Fund and a former board member of the Catholic Community Foundation, the Saint Paul and Saint John Vianney College Seminaries, and Twin Cities Cristo Rey Jesuit High School. In addition, Murray connects with other industry thought leaders through his participation and membership in the Construction Industry Roundtable.