Martin Marietta Materials, Inc. (NYSE: MLM) has appointed Michael J. Petro as Senior Vice President and Chief Financial Officer, effective immediately. Petro has been with the company since 2015 and most recently served as Senior Vice President of Strategy and Development. He played a significant role in the company's strategic growth initiatives, including successful portfolio-enhancing transactions that expanded Martin Marietta's geographic footprint and improved its product mix.
Some of the noteworthy transactions Petro was involved in include the acquisitions of Bluegrass Materials, Lehigh Hanson's west region, the Tiller Corporation, Albert Frei & Sons, and affiliates of Blue Water Industries, as well as the divestiture of certain non-core assets. Prior to joining Martin Marietta, Petro held roles as an investment banker and a consultant, developing a deep understanding of capital markets, financial analysis, forecasting, and process optimization.
Upon Petro's appointment, Robert J. Cardin, who had been serving as the interim CFO since April 2025, will continue in his role as Senior Vice President, Controller, and Chief Accounting Officer.
Martin Marietta's Chair and CEO, Ward Nye, expressed confidence in Petro's ability to lead the finance organization forward, citing his proven track record of delivering results and creating value, as well as his demonstrated leadership capabilities. Nye also thanked Cardin for his support during the transition, acknowledging him as an extremely talented and highly valued member of the team.
Petro, who holds an undergraduate degree in accounting from Louisiana State University and a Master of Business Administration degree from Duke University's Fuqua School of Business, expressed his honor at taking on the role of CFO. He stated his eagerness to continue advancing the company's strategy while delivering compelling, long-term value for Martin Marietta shareholders.
Martin Marietta, a member of the S&P 500 index, is a leading supplier of building materials, including aggregates, cement, ready mixed concrete, and asphalt. The company's operations span 28 states, Canada, and the Bahamas, supplying resources for building solid foundations on which communities thrive. Additionally, Martin Marietta's magnesia specialties business produces high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural, and specialty applications. Today the company's shares have moved -0.29% to a price of $556.29. Check out the company's full 8-K submission here.
