Peter Davoren takes over the reins at Turner Corporation.

The Turner Corporation announced that Peter J. Davoren, 51, has assumed the position of chairman and CEO, effective January 1, 2007.

In addition to his leadership role at Turner Construction Company, Davoren is now responsible for setting and implementing the strategic direction of the entire organization.

With sales in excess of $8 billion in 2006, Turner is the largest subsidiary of HOCHTIEF a publicly traded company and one of the five largest providers of construction-related services worldwide.

"Peter is a recognized leader in the industry with 29 years of experience. He is well-equipped to set a strategic course for the company and ensure that Turner provides the highest levels of service to clients and leads the industry in operational excellence," said Dr. Hans-Peter Keitel, chairman of HOCHTIEF AG's executive board.

Davoren has spent his entire career at Turner. His first position in 1978 was as a field engineer in the firm's Boston office and he assumed positions of greater responsibility in the years that followed.

He was named vice president of the New York Interiors Group in 1995. In 1996, he was promoted to general manager of the New York office and, in 2000, to senior vice president of the firm, responsible for Turner's

New York, New Jersey, Philadelphia and Pittsburgh offices. In 2003, Davoren was named president of Turner Construction Company, with responsibility for Turner's core construction operations.

Among the projects Turner has recently completed or currently underway are the new Yankee Stadium, the award-winning Hearst Tower, the Lincoln Center Development Project, renovation and expansion for the Julliard School and Alice Tully Hall, the $503 million Memorial Sloan-Kettering Mortimer B. Zuckerman Research Center and the Memorial Sloan-Kettering Breast and Imaging Center, the Solaire and Verdesian Green apartment buildings.

"I am privileged to have the opportunity to lead the company at this point in its history," said Davoren. "With the support of a talented leadership team and the entire Turner organization, we are positioned to take new approaches to face the challenges in our industry head-on. The company is continuously evolving to meet new challenges and I have no doubt that the company's best years are ahead of us,"

Davoren said a potential area for growth of the company would be expansion into the PPP (Public Private Partnerships) busines for which HOCHTIEF had already made $100 million available.

"As I look at the next two years, it is clear that the overall U.S. construction industry will continue to grow, despite commodity pricing pressures and potential labor shortages," Davoren continued.