A change in leadership at the highest level of a major corporation often signals a seismic shift in strategy and culture, but for Minneapolis-based construction firm Adolfson & Peterson, the transition appears to be one of carefully managed continuity. After a successful nine-year tenure, CEO Jeff Hansen is preparing to retire on June 1, passing the baton to the current Chief Operating Officer, Brad Hendrickson. This move comes at a pivotal moment for the company, which is concluding a remarkably strong fiscal year with projected revenues exceeding $1.5 billion and a substantial backlog of work already secured for the upcoming year. The appointment of an internal candidate with deep industry roots suggests a commitment to the firm’s existing trajectory rather than a dramatic course correction, a decision that provides stability in an industry often characterized by dynamic change. This leadership succession is not just an internal affair but a reflection of a broader trend within the construction sector, where firms are increasingly focused on strategic succession planning to maintain momentum and navigate an evolving market landscape.
A Legacy of Growth and a Vision for Continuity
The foundation upon which the new leadership will build is exceptionally solid, largely due to the strategic direction set by the outgoing CEO, Jeff Hansen. During his nine years at the helm, beginning in 2017, Hansen spearheaded a period of significant and calculated expansion for Adolfson & Peterson. His leadership was instrumental in pushing the company’s geographic footprint into new, promising markets, such as the establishment of operations in Bismarck, North Dakota, and achieving major growth milestones in the burgeoning Central Texas region. This physical expansion was matched by impressive financial performance and operational scale. As Hansen prepares for his departure, the company is on track to surpass the $1.5 billion revenue mark for the fiscal year. Furthermore, the firm’s forward-looking stability is underscored by the fact that 87% of its project backlog for the next fiscal year is already secured, providing a clear and robust pipeline of work. This period of growth also saw a significant investment in human capital, with the company expanding its workforce by a notable 25% over the past year alone, positioning it well for future endeavors.
The selection of Brad Hendrickson as the successor reinforces a message of stability and an unwavering commitment to the company’s core principles. Hendrickson is a seasoned veteran of the construction industry, bringing a wealth of experience to the chief executive role. His journey within AP has been one of rapid and impactful ascent since he joined the firm in 2021 as the president of its Midwest region, following a distinguished 31-year career at PCL Construction. He was promoted to the position of Chief Operating Officer in March of last year, a role he will continue to hold during the transition to ensure a seamless and efficient handover of all executive responsibilities. Hendrickson has publicly affirmed that the company’s fundamental strategy will remain consistent under his guidance. The focus will stay on cultivating growth in markets and sectors where the firm has already established deep expertise and cultivated strong, lasting client relationships. This includes a continued emphasis on key areas such as secure facilities, healthcare, education, advanced manufacturing, and various municipal projects across all of its operational regions, signaling a steady hand at the wheel.
Navigating an Industry-Wide Shift
The executive transition at Adolfson & Peterson did not occur in a vacuum; rather, it mirrored a strategic trend rippling across the national construction industry. As companies navigate economic fluctuations and evolving project demands, many are proactively implementing new leadership plans to ensure long-term stability and competitive advantage. This industry-wide focus on succession planning highlights a collective recognition of the importance of leadership continuity in sustaining growth and corporate culture. For instance, other major players have recently made similar moves, with Brentwood, Tennessee-based Bell Construction strategically adding new members to its ownership team to broaden its leadership base. In a similar vein, Portland, Oregon-based Fortis Construction recently named a new president to guide its future operations. These examples underscore a broader strategic foresight where firms are not just reacting to retirements but are actively cultivating the next generation of leaders from within or strategically recruiting them to maintain momentum.
This carefully orchestrated leadership change positioned Adolfson & Peterson to leverage its established strengths while embracing the future. By promoting a leader who was deeply integrated into the company’s recent successes and strategic planning, the firm ensured that the detailed knowledge of its operations, client relationships, and market positioning was retained at the highest level. The transition from Hansen to Hendrickson was designed to be more of a seamless relay than a disruptive overhaul, a strategy that provided reassurance to employees, clients, and industry partners alike. The decision ultimately reflected a confidence in the company’s current path and a belief that continued success depended on refining its proven formula rather than reinventing it. This approach allowed the company to maintain its powerful momentum, building upon a record year of revenue and project acquisition without the uncertainty that often accompanies a major executive change.
