Leadership selected for Eagle’s heavy materials business

By |  February 12, 2020

Logo: Eagle Materials Inc

Eagle Materials’ board of directors approved a plan in 2019 to separate its heavy and light materials businesses into independent, publicly-traded companies.

The plan continues to be carried out, as evidenced by the selection of a chairman and CEO for the two.

Eagle’s heavy materials business will continue to be called Eagle Materials. Mike Nicolais, current chairman of Eagle Materials, will be chairman of the board of the spun-off heavy materials company. Michael Haack will serve as president and CEO.

The light materials business, meanwhile, will be called American Gypsum Co. Dave Powers, former Eagle Materials CEO and a current Eagle Materials board member, will serve as chairman of American Gypsum. Craig Kesler, current CFO of Eagle Materials, is the president and CEO of American Gypsum.

According to Eagle Materials, these decisions lay the groundwork for further decision-making with respect to the separation that will be made and communicated over the coming months – including decisions pertaining to matters such as the broader leadership teams and the capital structures for the two companies.

“It is a board imperative that both companies be launched this year with the experienced leadership required to assure continued success and to provide continuity on the factors that have made these businesses the benchmark operating performers in their respective industries,” Nicolais says. “We are fortunate to have great leadership options due to the strength and experience in our ranks.”

Eagle’s existing heavy materials business consists of a cement plant system with complementary concrete, aggregate and sand operations. Eagle’s light materials business will produce gypsum wallboard and recycled paperboard.

Kevin Yanik

About the Author:

Kevin Yanik is editor-in-chief of Pit & Quarry. He can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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