Open-Book Financials Continue to be a Hallmark of DPR Construction as Privately Held Company Names Woman as CFO

August 7, 2002

Sandra Waechter Joins Management Committee of Forward-Thinking National Commercial Contractor and Construction Manager

DPR Construction, Inc., one of the nation's top commercial contractors/construction managers, announces the elevation of Sandra Waechter to Chief Financial Officer (CFO) and newest member of DPR's Management Committee, which drives the strategic growth and direction of the privately held company. Founded in 1990, DPR has grown from 1 office to 17 offices across the nation and posted more than $1.8 billion in revenue in 2001, making it the 20th largest general contractor in the country. Waechter attributes DPR's success to its "strong entrepreneurial spirit and company culture," which includes open-book financials, open-office environments, and ongoing training and education.

"DPR provides people - whether it's a man, woman, administrator or crafts person - with opportunities for continuous growth and promotes open, honest communication at every level," said Waechter, who is one of less than three percent of women in construction in managerial and professional specialty positions based on the Bureau of Labor Statistics-Current Population Survey in 2000. "We believe in our core values [integrity, enjoyment, uniqueness and ever forward] and live by them day to day, which is one of the reasons why I enjoy working at DPR."

Most private companies, according to Waechter, since they are not required to, do not disclose the amount of financial information that DPR offers its employees at quarterly company meetings. "At each office's quarterly meetings, we review financials, including bottom line and gross margins for both the company and the region, line by line, and encourage people to ask questions to learn more about the financial side of the business," said Waechter.

As CFO, Waechter leads a group of more than 100 individuals and is responsible for all finance, accounting, tax and treasury operations for DPR. Prior to joining DPR in 1999, Waechter worked for Applied Materials in strategic planning, finance and accounting; Raychem in operations, IT, finance and accounting; and Ernst & Whinney in audit. A current resident of Menlo Park, Calif., Waechter, a chartered accountant (the Canadian equivalent to a CPA), received her Masters of Business Administration from Harvard Business School and her Bachelor of Commerce in finance and economics is from the University of Toronto.

"Sandra continues to make a tremendous impact on DPR, as she furthers the development of the Finance and Accounting Group into a forward-thinking organization that supports all aspects of our business," said Ron Davidowski, secretary/treasurer and the "R" in DPR. "We are excited about the contributions she has made to date and look forward to working with her as we continue to move toward our mission to become one of the most admired companies by the year 2030."

About DPR Construction, Inc.

A forward-thinking national commercial contactor and construction manager, DPR Construction, Inc., has been "building great things," since it was founded in 1990 by Doug Woods, Peter Nosler and Ron Davidowski (a.k.a. the initials or D, P and R), including:

  • Great project teams in 17 offices across the nation.
  • Great relationships with customers, such as Apple Computer, Bayer Corp. Genentech, HCA, Kaiser Permanente, and Sun Microsystems.
  • Great results in 2001 with an annual revenue of $1.8 billion and recognition for its collaborative approach, safety program, use of technology and green building practices.

Specializing in technically demanding projects, DPR serves the biotech/pharmaceutical, broadcast, corporate, education, entertainment, healthcare, mission critical (data/telecom), semiconductor, and warehouse and distribution industries. The privately held, employee-owned company employs more than 2,200 professional staff and union crafts persons. For more information, please visit DPR's Website at http://www.dprinc.com.