IMC Construction to become the largest minority owned commercial construction company on the East Coast
IMC Construction, a leading Philadelphia-based commercial construction and development company, has announced that Michael Lloyd has been appointed President. Michael 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.
As the largest locally owned commercial general contractor in the Greater Philadelphia area, this leadership transition marks an exciting new chapter of the firm’s growth. With Michael 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.
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“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 Michael Lloyd, President. “Expanding IMC’s diverse career and contracting opportunities both internally and externally is a priority as we look to the future.”
As President, Michael 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.
Michael’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.”
Robert Cottone has been integral to IMC’s growth for the past 37 years and will remain an active and valued leader at the firm. He is the second largest shareholder and will be engaged in strategic planning, talent development, client service and special projects.
During his tenure, Robert helped shape IMC’s core values of innovation and collaboration, consistently evolving the company’s ability to deliver increasingly sophisticated and complex projects. Today, IMC delivers the highest level of construction excellence across a broad range of sectors, including healthcare, industrial, commercial, multifamily, hospitality, retail, science and technology, and senior living. The firm is the largest independent, locally owned commercial construction company in the Greater Philadelphia region.
IMC’s expansive portfolio includes The University of Pennsylvania Health System’s Advanced Outpatient Care Center, a 250,000 sq. ft. healthcare facility located in Radnor, PA; also for The University of Pennsylvania Health System, IMC constructed the Center for Healthcare Technology, a 305,000 sq. ft. design-build project; 2222 Market Street, the first new office tower to be constructed in Philadelphia in nearly 30 years and the new headquarters for international law firm Morgan Lewis & Bockius; and Chemours Discovery Hub, a ground up, 340,000 sq. ft. chemical research facility located on the University of Delaware’s STAR Campus. Additional projects include the King of Prussia Mall expansion, as well as thousands of multi-family and assisted living projects for clients such as Trammell Crow Company, BET Investments, Capitol Seniors Housing, and Brightview Senior Living.
IMC consistently ranks among the top five commercial contractors in the Philadelphia region by the Philadelphia Business Journal and has been named one of the top places to work for 11 consecutive years by The Philadelphia Inquirer. Additionally, IMC has consistently ranked among the Top 400 Contractors, Top 100 CM-at-Risk Firms, Top Mid-Atlantic Contractors and Top 100 Green Building Contractors, by Engineering News Record (ENR) for the last five years.