USA: Martin Marietta elects new Board members

Martin Marietta Materials Inc has appointed a new independent director to its Board of Directors. John J (Jack) Koraleski, former chairman of the Board of Directors and CEO of Union Pacific Corporation, was elected to Martin Marietta's Board of Directors on 15 August 2016.

Mr Koraleski, 65, will serve on Martin Marietta's Audit Committee, Management Development and Compensation Committee, and Executive Committee.

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 Republic Services, Inc, and serves on Martin Marietta's Finance Committee and Ethics, Environment, Safety and Health Committee.

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.

C Howard (Ward) Nye, Chairman, President and CEO 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."

"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."