Martin Marietta elects two new board members

By |  August 18, 2016

martin marietta logoMartin Marietta Materials Inc. appointed John Koraleski, former chairman of the board of directors and CEO of Union Pacific Corp., and Donald Slager, president and CEO of Republic Services, to its board of directors. Koraleski will serve on Martin Marietta’s audit committee, management development and compensation committee, and executive committee. Slager will serve on the company’s finance committee and ethics, environment, safety and health committee.

The two new directors fill the seats previously held by Frank Menaker Jr. and Richard Vinroot. Both men had reached the mandatory retirement age provided in Martin Marietta’s bylaws, which made them ineligible for election at the company’s 2016 annual meeting of shareholders. Menaker and Vinroot 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 nine outside directors.

Koraleski also served as executive chairman of the board of directors for Union Pacific from February 2015 until his retirement in September 2015. Slager serves on Republic Services’ board of directors, as well.

“We are excited to welcome [John] Koraleski and Don Slager to Martin Marietta’s board of directors,” says Ward Nye, chairman, president and CEO of Martin Marietta. “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.”

Martin Marietta Materials, a member of the S&P 500 Index, is a supplier of aggregates and heavy building materials. It has operations in 26 states, Canada and the Bahamas.

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