MasTec, Inc. has appointed Manny Miranda to its Board of Directors as a Class II Director, effective immediately. The appointment leverages Miranda's extensive background in the utility sector to bolster the company's strategic oversight of infrastructure projects. This move aims to enhance MasTec's positioning as a supplier of choice for critical utility infrastructure deployment.

Miranda brings more than 40 years of experience in the utility industry, with deep expertise across electric and natural gas utility operations. His career includes leadership responsibilities at Florida Power & Light and Florida City Gas, spanning transmission, substations, distribution, engineering, construction, and system reliability. He has overseen large-scale capital investment programs and utility infrastructure planning, ensuring the safe delivery of energy to millions of customers.

Professional Background and Education

Miranda holds a Bachelor of Science degree in mechanical engineering from the University of Miami and a Master of Business Administration from Nova Southeastern University (NSU). He currently serves as a Director on the Board of CenterPoint Energy, Ubicquia, Inc., and the University of Miami College of Engineering Advisory Board. His previous board roles include the Board of Governors for NSU's H. Wayne Huizenga School of Business and Entrepreneurship, as well as the Southeastern Electric Exchange and the Association of Edison Illuminating Companies.

Strategic Implications

MasTec's Chairman, Jorge Mas, highlighted that Miranda's experience provides a unique perspective on the opportunities and challenges facing the company's customers. Mas stated that Miranda's understanding of electric and natural gas infrastructure, combined with his operational expertise, will be invaluable as MasTec continues to build and modernize North America's critical infrastructure.

Miranda expressed his honor in joining the Board, noting his long-standing familiarity with the company. He aims to leverage his knowledge of utility operations to enhance MasTec's strategic positioning with utility clients and reinforce its role as a leading utility contractor in the United States.

About MasTec, Inc.

MasTec, Inc. is a leading North American infrastructure engineering and construction company. It operates primarily through four business segments: Communications, Power Delivery, Pipeline Infrastructure, and Clean Energy and Infrastructure. The company focuses on engineering, building, installing, maintaining, and upgrading communications, energy, utility, and other infrastructure.

MasTec has generated significant shareholder value over the last two decades, outperforming the market with an average annual return of 18.15%. This performance represents an 8.75% annualized outperformance compared to the broader market. The infrastructure construction company currently holds a market capitalization of $29.14 billion.

The impact of compounded returns is evident when analyzing historical investment data. An investor who purchased $1000 worth of MasTec stock 20 years ago would see that investment valued at $28,087.45 today. This calculation is based on a current share price of $369.35.

MasTec's 20-Year Performance

The data underscores the long-term growth potential of the stock, highlighting how consistent returns and compounding can substantially increase capital over extended periods. The company's sustained performance has allowed it to build a substantial market presence and deliver strong returns to long-term shareholders.