Martin Marietta named Michael Petro senior vice president and CFO.
Robert Cardin, who had been serving Martin Marietta as interim CFO since April, now continues in his role as senior vice president, controller and chief accounting officer.
Petro most recently served as senior vice president of strategy and development at Martin Marietta, joining the company in 2015. According to Martin Marietta, Petro was instrumental on several key transactions in recent years, including those of Bluegrass Materials, Lehigh Hanson’s West Region, Tiller Corp., Albert Frei & Sons and the affiliates of Blue Water Industries.
“I am honored to be taking on the role of CFO,” Petro says. “Martin Marietta has a winning approach to capital allocation and a proven formula for success, and I look forward to continuing to advance our strategy while delivering compelling, long-term value for Martin Marietta shareholders.”
As CFO, Petro will continue to oversee Martin Marietta’s strategy and development team.
“Michael’s work, both on and leading our strategy and development team over the past 10 years, has meaningfully contributed to our company’s success,” says Ward Nye, chair and CEO of Martin Marietta. “With his proven track record of delivering results and creating value, and his demonstrated leadership capabilities, we are confident Michael is the right person to lead our finance organization forward.”
“I also want to acknowledge and thank Bob for stepping into the role of interim chief financial officer over the past several months and supporting a smooth and seamless transition,” Nye adds. “Bob is an extremely talented and highly valued member of our ONE team, and we look forward to continuing to benefit from his capable and effective leadership as he returns to his primary duties as senior vice president, controller and chief accounting officer.”
