Orion Group CEO Mark Stauffer Steps Down, Chairman Austin Shanfelter Named Interim CEO

(RTTNews) - Specialty construction company Orion Group Holdings Inc. (ORN), Thursday announced that Mark Stauffer has stepped down as President and CEO, and as a member of the Board, and will serve as an advisor to the company.

The company has appointed Austin Shanfelter, Chairman of the Board of Directors, as interim Chief Executive Officer.

Richard Daerr, Jr., a current Board member, has been appointed Lead Independent Director, and will not retire at the company's 2022 annual meeting of stockholders as previously announced. All appointments are effective immediately.

The company has retained a leading executive search firm and will initiate a search to identify a permanent CEO.

Stauffer said, "It has been a privilege to lead Orion and this exceptional team. I am proud of all that we have achieved together and confident that the Company is well positioned for the future. I look forward to working with Austin and the team as an advisor to ensure a smooth transition."