Adolfo Valderas has taken over as the new chief executive of CIMIC Group, which is on track to deliver a full-year net profit of at least $520 million.

The construction contracting company’s deputy CEO immediately takes over the CEO position from Marcelino Fernandez Verdes, who will continue in his other role as executive chairman. “CIMIC Group’s solid financial position, our robust pipeline and the expertise of our people in delivering complex construction, mining, mineral and concessions projects provides…