Stephen Zelnak Jr., Martin Marietta Materials Inc.‘s chairman of the board, announced he plans to retire May 22 of this year. Ward Nye will take over as chairman and also remain as CEO.
According to a press release, Zelnak has served Martin Marietta for 33 years. He joined Martin Marietta Corp. as vice president of planning and business development in 1981. One year later, he was appointed president of the company’s new Aggregates Division in Raleigh, N.C.
Zelnak, 69, led the initial public offering of Martin Marietta stock in 1994, and in 1996 he led the offering of the remaining stock held by Lockheed Martin as Martin Marietta became an independent New York Stock Exchange-listed company.
