Thornton Tomasetti taps new co-CEOs in management shakeup

Thornton Tomasetti taps new co-CEOs in management shakeup
Changes are part of the company’s five-year plan
New York /
Thornton Tomasetti s Peter DiMaggio, Michael Squarzini and Tom Scarangello (Credit: Thornton Tomasetti)
Thornton Tomasetti, one of the city’s largest engineering and design firms, has tapped two new CEOs as part of a broader reorganization of the company.
Managing director Peter DiMaggio and managing principal Michael Squarzini will become the company’s co-CEOs, starting in January 2020, the firm announced on Tuesday. Tom Scarangello, who has been with the company since 1979, will step down as CEO and assume the role of executive chairman.
“I’m always going to be a working chairman,” Scarangello told The Real Deal. “This really allows me to take my 40 years of experience and employ it at a higher, strategic level.”
The management shakeup is part of a five-year plan aimed, in part, at international expansion and technological innovation. Squarzini said company will focus on incorporating artificial intelligence and machine learning into its practices, and will explore opportunities in Australia, Europe and China.
“We follow clients, and we follow markets where we think there are opportunities for our practices,” he said.
This year marks the end of the company’s last five year plan, which included major changes like its merger with Weidlinger Associates in 2015. The combined firms now have 1,500 people across more than 50 offices.
As part of the management shift, Wayne Stocks, Washington D.C.-based managing director, will become president. The current president, Raymond Daddazio, will become a senior consultant with the company. This year, Thornton Tomasetti is celebrating its 70th year of business at the Shed in Hudson Yards, one of its latest projects in the city.
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.

Necessary cookies are absolutely ess

夜网论坛
ential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
REAL NEWS, REAL DEALS DELIVERED DIRECTLY TO YOUThe Real Deal’s newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.
We are having some technical difficulties. Try again later.
By clicking Subscribe you agree to our Privacy Policy.