Construction startup Katerra hires former James Hardie executive as new CFO

The firm acquired UEB Builders and Fortune-Johnson General Contractors earlier this month

Sep.September 17, 2019 09:00 AM
From left: Mollie Fadule, Lisa Picard and Matthew Marsh

From left: Mollie Fadule, Lisa Picard and Matthew Marsh

SoftBank-backed construction startup Katerra is bringing on a new CFO as part of a series of changes to its executive team.

Matthew Marsh, a former executive at James Hardie and General Electric, is joining as the company’s new chief financial officer. In addition, Katerra has hired former private equity exec Mollie Fadule as the new head of its affordable housing program, and it’s appointed Lisa Picard, president and CEO of EQ Office, as a new board director.

Katerra, which has raised $1 billion since its founding in 2015, markets itself as a technology company that offers a full suite of general contracting, engineering, design and other building services.

Just last year, the company was battling delays and quality control issues as it tried to expand.

According to the Information, Katerra’s flagship factory in Arizona had to be shut down because of permitting issues, and quality control issues hampered construction. A former Katerra manager told the news site that “every day is a fire drill.”

The company, which has raised more money since those reports last year, has made a series of other organizational changes in recent months, including the acquisition of UEB Builders and Fortune-Johnson General Contractors, as it looks to grow into other markets.

The latest executive appointments follow the hiring of former oil-industry executive Paal Kibsgaard as the firm’s new chief operating officer in August.

Before moving to Katerra, Marsh was the CFO and executive vice president at James Hardie, and spent 16 years at General Electric Company. Fadule co-founded private equity firm Cephas Partners in 2012 to work with affiliates of the Blackstone Group.

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