PHILADELPHIA, Dec. 06, 2018 (GLOBE NEWSWIRE) — Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has entered into an agreement with Richter Capital LLC pursuant to which David L. Richter, Chairman and CEO of Richter Capital, has been appointed to serve as an Observer to Hill’s Board of Directors. Richter beneficially owns approximately 4.1 million shares of Hill common stock, or approximately 7.7% of the company’s issued and outstanding shares.
Prior to his current position, Richter worked at Hill from 1995 to 2017, rising from General Counsel to Group President to COO and eventually to CEO. He also served as a member of Hill’s Board of Directors from 1998 to 2017. He is a Fellow of both the Construction Management Association of America and the Chartered Institute of Building. Richter earned his B.S. in management, his B.S.E. in civil engineering, his J.D. from the University of Pennsylvania, and his M.Sc. in major program management from the University of Oxford. He is currently pursuing his M.P.A., together with a certificate in management, leadership, and decision sciences, at Harvard University.
David Sgro, Hill’s Chairman, stated “David is a large stockholder with industry experience and the Board made the determination that it was in the best interest of all stakeholders to have David as part of our deliberations. We look forward to working constructively with David.”
“As one of Hill’s largest stockholders, I am looking forward to working alongside the current Board members to improve the company’s operations and significantly increase the company’s value,” said Richter. “I very much appreciate the willingness of the Board to work cooperatively so we can focus on the long-term success of the company for the benefit of its employees, its clients, and its stockholders,” added Richter.
About Hill International
Hill International, with approximately 2,800 professionals in more than 50 offices worldwide, provides program management, project management, construction management, and other consulting services to clients in a variety of market sectors. Engineering News-Record magazine recently ranked Hill as the eighth-largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
Forward Looking Statements
Certain statements contained herein may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any statements of belief or intent, any statements concerning our plans, strategies, and objectives for future operations; and any statements regarding our intent to file late periodic reports or relisting on a national securities exchange, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates, and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue, our expenses may be higher than anticipated, and the review of the Company’s accounting, accounting policies and internal control over financial reporting, and the preparation of and the audit or review, as applicable, of filings may take longer than currently anticipated or additional restatement adjustments may be identified. We do not intend, and undertake no obligation, to update any forward-looking statement.
Hill International, Inc.
Elizabeth J. Zipf, LEED AP BD+C
Senior Vice President
Hill International, Inc.
One Commerce Square
2005 Market Street, 17th Floor
Philadelphia, PA 19103
(215) 309-7707
[email protected]
Hill International, Inc.
Todd Weintraub
Senior Vice President and Chief Financial Officer
(215) 309-7776
[email protected]
InvestorCom
John Glenn Grau
President
(203) 295-7841
[email protected]
(HIL-G)
