Thornton Tomasetti taps new co-CEOs in management shakeup

Changes are part of the company’s five-year plan

TRD New York /
Sep.September 10, 2019 06:00 PM
Thornton Tomasetti's Peter DiMaggio, Michael Squarzini and Tom Scarangello (Credit: Thornton Tomasetti)

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.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Michael Gianaris (Photography by Sasha Maslov)

The Closing: Michael Gianaris

The Closing: Michael Gianaris
Can eXp’s virtual world work in New York?

Can eXp’s virtual world work in New York?

Can eXp’s virtual world work in New York?
The Real Deal's E.B. Solomont and Brown Harris Stevens' CEO Bess Freedman

The Interview: Bess Freedman on how resi firms will look post-Covid

The Interview: Bess Freedman on how resi firms will look post-Covid
(Illustration by Sebastien Thibault)

Pension fund money is getting tangled in some controversial housing deals

Pension fund money is getting tangled in some controversial housing deals
Clockwise from top: Gary Barnett, Aby Rosen, Michael Stern, Jeff Blau, Ziel Feldman and Robert Gladstone (Illustration by Nazario Graziano)

Sizing up Manhattan’s condo crunch following a decade of boom and bust

Sizing up Manhattan’s condo crunch following a decade of boom and bust
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...