Skanska announced a new president and CEO last month, following the surprise resignation of Claes Björk.

The board of directors appointed Stuart Graham, 56, who will fill the vacancy immediately. Graham joined Skanska in 1990, and was an executive vice president of the Skanska Group since 2001. He has overseen operations in the US, South America, UK and Hong Kong, as well as the major projects business unit Skanska International Projects.

Graham will relocate to Stockholm, which Skanska sees as the strategic hub for operations. Björk did not give a reason for his resignation.