Hill International's CEO, David Richter, resigns

Hill International announced Wednesday that David L. Richter has resigned as chief executive officer effective immediately.

Richter, who had been with the Philadelphia-based construction consulting company for 22 years, had held various senior roles since 1995 before becoming CEO in 2014.

The company also announced that it has set a May 5 closing date for the sale of its Construction Claims Group to Bridgepoint Development Capital, part of international private equity group Bridgepoint. 

"The sale of the company's Construction Claims Group is critical to the future of Hill. It was extremely important for me and the company to see this transaction through," said Richter.  "This sale will significantly improve Hill's financial position and create opportunities for growth that were not possible prior to the sale. I am extremely proud of the team we have built at Hill and I am honored to have served as CEO of such an outstanding world-class organization."

Paul Evans, a director on Hill's board, will assume the role of interim chief executive officer and director until a permanent replacement is appointed. Evans most recently served as vice president, chief financial officer and treasurer of MYR Group.

"I am honored to be appointed as interim CEO. We appreciate everything David has done to make Hill a global leader in construction management," said Evans. "Our focus going forward will be on maintaining liquidity, improving internal controls, optimizing financial performance and returning to profitability."

Additional leadership changes include Craig Martin's appointment as executive chairman to a newly established Office of the Chairman, which comprises of Craig Martin, chairman; Paul Evans, interim chief executive officer and director; Raouf S. Ghali, president and chief operating officer; and William H. Dengler, Jr., executive vice president and general counsel.