Philadelphia, PA — IMC Construction has announced that Michael Lloyd has been appointed president. Lloyd succeeds Robert Cottone, who led IMC for 20 years as president and has spent 37 years at IMC. Cottone will continue as chairman of the board of directors of IMC.
This leadership transition marks an exciting new chapter of the firm’s growth. With Lloyd as president and the single largest shareholder, IMC will not only become the largest minority-owned commercial construction company on the East Coast, but it will also be one of the largest minority-owned commercial general contractors in the country.
“IMC has grown dramatically over the past two decades under Robert’s leadership, and I look forward to building on our culture of innovation and collaboration to lead IMC into its next phase of growth,” said Lloyd. “Expanding IMC’s diverse career and contracting opportunities both internally and externally is a priority as we look to the future.”
As president, Lloyd will lead the strategic direction of the firm and oversee all daily activities. He assumes this role after leading the firm’s daily operations for the last three years as Chief Operating Officer, and previously served as executive vice president and general counsel, where he led the firm’s risk management efforts.
Lloyd’s prior leadership experience across diverse business sectors also uniquely positions him to lead IMC through its next phase of growth. He began his career in finance as a credit trader at Barclays Capital, later serving as tax counsel for Chevron, and was a key part Uber’s International expansion. Lloyd earned his Juris Doctorate from Harvard Law School and is an expert in risk management, strategic planning, and cultivating a culture of collaboration and innovation.
“Michael’s varied leadership background and in-depth understanding of IMC’s values and culture make him uniquely qualified to lead IMC,” said Robert Cottone, chairman. “The transition also creates the opportunity for the next generation of executive leadership to emerge while enhancing our ability to create expanded and inclusive career opportunities as we continue our strategic expansion as one of the leading independent commercial general contracting firms in the country.”