Martin Marietta Announces the Election of New Board Members
John J. (Jack)
Koraleski, former Chairman of the Board of Directors and CEO of
Mr. Koraleski, 65, also served as
Executive Chairman of the Board of Directors for
will serve on Martin Marietta's
At its Annual Meeting of Shareholders in May,
Donald (Don) W. Slager was elected to Martin Marietta's Board of Directors.
Mr. Slager, 54, is
President and CEO of
serves on Martin Marietta's
The two new directors fill the seats previously held by Frank H. Menaker, Jr. and
Richard A. Vinroot, both of whom reached the mandatory retirement age provided in Martin Marietta's Bylaws. They were not eligible for election at the 2016 Annual Meeting of Shareholders and retired from the Board after 23 and 20 years of service to the company, respectively.
Martin Marietta's 10-member Board of Directors now consists of 9 outside directors.
C. Howard (Ward) Nye, Chairman, President and Chief Executive Officer of Martin Marietta, stated, "We are excited to welcome
Jack Koraleski and
Don Slager to Martin Marietta's Board of Directors. They are both experienced chief executives who are well-versed in corporate governance matters and whose strategic insights will be invaluable in helping Martin Marietta continue to deliver good results to its shareholders. In addition, their deep knowledge of logistics, transportation, land use, as well as a strong focus on safety and environmentally responsible businesses, will enable each of them to make a very meaningful contribution to the Board. We are extremely pleased to have people of Jack's and Don's caliber and expertise join the Martin Marietta Board and believe they are each going to make an important and positive impact on our company, its employees, customers and shareholders."
"On behalf of our Board and shareholders, I want to extend my personal thanks and sincere appreciation to Mr. Menaker and Mr. Vinroot for their years of service and insights they both provided to our company. Each gave generously of their time and consistently provided the Board with independent judgment and advice, which were invaluable to the success of Martin Marietta."
Martin Marietta, an American-based company and a member of the S&P 500
Index, is a leading supplier of aggregates and heavy building materials,
with operations spanning 26 states,