Source: Martin Marietta Materials, Inc., Raleigh, N.C.
Effective January 1, C. Howard Nye will become Martin Marietta chief executive officer. The appointment follows more than three years as chief operating officer, a position Nye assumed after more than a decade with Hanson Plc, culminating as Hanson Aggregates executive vice president.
He succeeds Stephen Zelnak, Jr., who upon a mid-2010 retirement will transition from executive to nonexecutive chairman of the board. Appointed chairman in 1997, he was the company's charter CEO, leading an initial public offering in 1994 that separated Martin Marietta Materials from the present aerospace operator, Lockheed Martin Corp. Zelnack had headed the Raleigh-based Aggregates Division since 1982, and was elected an officer five years later. Under his tenure, Martin Marietta Materials has grown fivefold, maintaining a strong number two position in aggregates, with companion ready mixed and asphalt production in certain markets. For two years running, the company has topped its category in Fortune Magazine's "World's Most Admired Companies" listing.