Skanska USA, the American division of Stockholm-based construction and development giant Skanska, announced a major leadership change in its financial operations as longtime Chief Financial Officer Leo Sinicin prepares to retire at the end of 2025. The transition marks the end of an era for one of the company’s most seasoned executives and sets the stage for a new chapter led by company veteran Dan DeRooy.
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The firm confirmed Wednesday that Sinicin will step down on Dec. 31, concluding a notable 30-year career with Skanska, including more than 20 years as CFO for Skanska USA Building and 13 years overseeing finances for all U.S. operations. His successor, DeRooy—currently vice president of finance for Skanska USA Building—will assume the dual CFO roles on Jan. 1, 2026.
Skanska USA’s business consists of three key divisions: Building, Civil, and Commercial Development, each operating with its own executive leadership structure. The CFO position plays a pivotal role, directing financial strategy, managing capital, and overseeing regional performance across one of the world’s most well-recognized construction companies.
In announcing the leadership shift, the company praised Sinicin’s long-standing impact on the organization.
“Leo has been a cornerstone of our financial leadership and a trusted advisor through every major strategic decision in the U.S. over the past several decades,” said Clay Haden, president and CEO of Skanska USA Building. “His contributions are far too many to mention, and his deep expertise, candor, and insight have helped shape the business we are today.”
DeRooy brings 20 years of experience at Skanska, having worked extensively across financial reporting, performance analysis, and corporate financial strategy. Before his current role, he spent 12 years as corporate director of financial reporting and seven years as financial reporting manager. He originally joined Skanska in 2004 following five years as a financial and business analyst at Merck-Medco.
He holds an MBA in finance from Montclair State University.
Haden expressed confidence in DeRooy’s ability to guide the company through ongoing industry shifts.
“Dan brings a wealth of experience and a deep understanding of our business,” Haden said. “Leo set a high bar, and I’m confident Dan will build on that legacy with vision and integrity.”
The CFO transition continues a broader reshuffling of global leadership at Skanska. The company’s longtime global CFO Magnus Persson stepped down in 2024 after an 18-year tenure, including six years on the executive leadership team. He was succeeded in January 2025 by Jonas Rickberg, formerly CFO of Scania Group, the Swedish commercial vehicle manufacturer under the Volkswagen umbrella.
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The U.S. CFO shift reinforces Skanska’s ongoing efforts to strengthen financial oversight, stabilize margins, and maintain operational discipline during a period of mixed market performance.
Skanska’s recent third-quarter earnings, released last week, showcased the contrasting dynamics within its American portfolio. While the company continues to see strong performance in domestic infrastructure, mission-critical facilities, and data center construction, the U.S. commercial development market remains weak, leading to write-downs in certain regions.
Even so, Skanska USA Building enters the leadership transition on solid footing. The firm reports more than 22 months of contracted work in its backlog, reflecting sustained demand for construction services in fast-growing sectors such as clean energy, transportation, healthcare, and technology.
DeRooy takes over at a time when the U.S. construction landscape is evolving rapidly—shaped by rising federal infrastructure spending, expanding data center demand, continued labor shortages, and increased pressure to modernize financial operations through digital tools and automation.
With decades of institutional knowledge, DeRooy is expected to continue Skanska’s financial discipline while navigating fluctuating markets and supporting strategic investments across its U.S. portfolio. Meanwhile, Sinicin leaves behind a legacy marked by organizational stability, risk management, and a central role in guiding the company through major industry cycles.
Originally reported by Zachary Phillips in Construction Dive.
