Business

April 16, 2014

Zelnak stepping down as Martin Marietta chairman

Martin Marietta Materials announced Wednesday that Stephen Zelnak will retire from his role as chairman of the company's board of directors on May 22.

Martin Marietta Materials announced Wednesday that Stephen Zelnak will retire from his role as chairman of the company’s board of directors on May 22.

Zelnak will continue to serve on the board, which has elected Martin Marietta CEO Ward Nye to be the next chairman.

Zelnak, 69, has worked at Raleigh-based Martin Marietta for 33 years. He served as CEO until January 2010, when he was replaced by Nye.

In January, Martin Marietta announced that it was acquiring Texas Industries for $2.7 billion in a deal that will make the Raleigh company the largest provider of rock, gravel and other construction materials in the country.

The combined company will have nearly 7,000 employees and be based in Raleigh, where it has about 280 employees. The acquisition represents the largest ever acquisition for Martin Marietta.

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