St. Louis’ McCarthy hires new CEO

St. Louis-based McCarthy Holdings, Inc. has selected Raymond Sedey as the firm’s next chief executive officer. Sedey will assume this position, currently held by Michael Bolen, on Jan. 1. Bolen will continue in the role 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, becoming one of the nation’s largest Employee Stock Ownership Plan (ESOP) companies. Serving communities across the country, McCarthy is currently the nation’s 12th largest domestic general contractor 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 just its third CEO in the last 50 years.

Sedey began with McCarthy in 2000 as a project engineer in the firm’s Southwest Region. He then moved through several core operations roles including superintendent, project manager and director, before being promoted to vice president, operations for the Las Vegas office in 2009. In 2012, Sedey was promoted to executive vice president responsible for leading business operations in Nevada, New Mexico and Colorado.

In 2015, Sedey was selected to lead the McCarthy Texas Region as regional president. In 2018, Sedey then led efforts to combine operations of the McCarthy Southeast Division and Texas Region to form a new Southern Region and assumed the position as Southern regional president.

Passionate about the workforce of the future, Sedey serves as the executive sponsor for the firm’s national craft initiative, ensuring that McCarthy builds the foundation to attract, hire, develop and engage the next generation of craft professionals. He is also an active instructor and mentor in McCarthy’s leadership development program and advocate for diversity in the industry, with a focus on encouraging and supporting women in construction careers.

In addition to Sedey’s experience with McCarthy, he is actively involved in a variety of professional and community organizations including the Dallas Regional Chamber, TEXO, American Heart Association, Make-A-Wish Foundation, Montana State University College of Engineering advisory board and more. Sedey has repeatedly been recognized for these efforts including an Engineering News-Record Southwest 20 Under 40 Award, among others.

Sedey is expected to maintain an office in Dallas as well as in the McCarthy Corporate Headquarters in St. Louis.