Martin Marietta Materials Inc. (MLM) announced that Chairman and Chief Executive Officer Stephen Zelnak would retire in mid-year 2010. The company noted that Zelnak would continue as executive Chairman of the Board until his retirement, and then become non-executive Chairman of the Board.
The company said Howard Ward Nye will become Chief Executive Officer, effective January 1, 2010, and has been elected to the Board of Directors.
Ward Nye joined Martin Marietta as President and COO in 2006 with over 20 years of experience in the construction materials industry, the company added.
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