Dycom Adds Water Infrastructure Veteran to Board, Signaling Growth Focus

BOCA RATON, FL – November 10, 2025 – Dycom Industries, Inc. (NYSE: DYC) today announced the appointment of Stephen LeClair to its Board of Directors, effective immediately. LeClair, former President and Chief Executive Officer of Core & Main, LP, a leading distributor of water, wastewater, storm drainage, and fire protection products, brings extensive operational and strategic leadership experience to the company.

While Dycom is primarily focused on providing specialty contracting services for telecommunications and utility infrastructure, the appointment of LeClair, a veteran of the water infrastructure space, is being viewed by industry analysts as a strategic move signaling a potential broadening of Dycom’s long-term vision and a deepened emphasis on operational excellence.

“This isn’t just about adding another board member; it’s about bringing in someone with a proven track record of scaling a complex industrial business and navigating a rapidly changing market,” said one industry observer. “LeClair’s background is highly complementary to Dycom’s existing strengths.”

Operational Expertise a Key Driver

LeClair’s career spans over two decades at Core & Main and its parent company, HD Supply. He is credited with driving significant growth and profitability at Core & Main through a focus on operational efficiency, strategic acquisitions, and a customer-centric approach. This expertise is particularly relevant for Dycom, which is currently focused on optimizing its performance and capitalizing on the significant investments flowing into the infrastructure sector.

“Dycom is at a critical juncture,” explains another source familiar with the company's strategy. “They're benefiting from robust demand, but they also need to manage costs, improve project execution, and ensure they have the right infrastructure in place to support sustained growth. LeClair’s experience in these areas will be invaluable.”

Dycom’s leadership has publicly stated its focus on enhancing operational excellence and delivering value to shareholders. LeClair’s appointment is seen as a concrete step towards achieving these goals. His deep understanding of supply chain management, distribution logistics, and project management is expected to benefit Dycom's operations.

Potential for Strategic Diversification?

While Dycom’s core business remains focused on telecommunications and utility infrastructure, some analysts believe LeClair’s appointment could signal a potential long-term interest in diversifying into adjacent markets. The water and wastewater infrastructure sectors are experiencing significant investment and growth, driven by aging infrastructure, increasing regulatory requirements, and the need for resilient water systems.

“It’s too early to say definitively whether Dycom will move into the water infrastructure space,” notes a financial analyst covering the infrastructure sector. “But bringing in someone with LeClair’s experience certainly opens up that possibility. It demonstrates a willingness to explore new opportunities and leverage expertise from related industries.”

Sources within Dycom indicate that while there are no immediate plans for a major strategic shift, the company is always evaluating potential growth opportunities. LeClair’s presence on the board will provide valuable insights into the water infrastructure market and help inform the company’s long-term strategic planning.

Complementing Dycom’s Board Expertise

Dycom’s Board of Directors is composed of experienced professionals with diverse backgrounds in telecommunications, utilities, finance, and technology. LeClair’s appointment adds a unique perspective and strengthens the board’s overall expertise. His experience on the board of AAON, Inc. further complements his contribution to Dycom’s corporate governance framework.

“Dycom’s board is already strong, but LeClair brings a different skillset and a broader perspective,” states a governance expert. “His experience in scaling a large industrial business and navigating a complex regulatory environment will be particularly valuable.”

The addition of LeClair, alongside Phillip R. Gallagher (CEO of Avnet, Inc.) appointed to the board in October 2025, illustrates Dycom’s deliberate strategy to strengthen its board with seasoned leadership experienced in navigating technological advances, operational efficiency, and expansive industrial markets.

Industry Trends and Future Outlook

The infrastructure sector is undergoing a period of significant transformation, driven by government investment, technological innovation, and the need for resilient infrastructure. Companies are increasingly focused on improving project execution, managing costs, and adapting to changing market conditions.

“The infrastructure market is highly competitive, and companies need to be agile and innovative to succeed,” notes a construction industry analyst. “Dycom’s focus on operational excellence and its willingness to explore new opportunities will be key to its long-term success.”

With the appointment of Stephen LeClair, Dycom appears poised to capitalize on the opportunities presented by the evolving infrastructure landscape and deliver value to its shareholders. The move signals a clear commitment to operational excellence, strategic growth, and a willingness to explore new horizons. The water infrastructure space, while currently distinct from Dycom’s core competencies, provides a potential avenue for future expansion and diversification. As investment in infrastructure continues to grow, Dycom, with its strengthened board and strategic focus, is well-positioned to thrive in this dynamic market.