RALEIGH, NC (STL.News) Martin Marietta Materials, Inc. (NYSE: MLM) today announced that a new independent director was elected to its Board of Directors at its Annual Meeting of Shareholders. David C. Wajsgras served as president of the Intelligence, Information and Services business of the former Raytheon Company, now part of Raytheon Technologies Corporation (NYSE: RTX). Previously, he served as Raytheon’s senior vice president and chief financial officer.
Mr. Wajsgras fills the seat previously held by Stephen P. Zelnak, Jr., who reached the mandatory retirement age provided in Martin Marietta’s Bylaws. Mr. Zelnak was ineligible for election at the 2020 Annual Meeting of Shareholders and retired after 27 years of Board service.
C. Howard Nye, Chairman, President and Chief Executive Officer of Martin Marietta, stated, “We are excited to welcome Dave to Martin Marietta’s Board of Directors. He is an experienced public company executive who is well-versed in financial and operating matters, technology transformation, and corporate governance. Dave’s expertise will provide us with valuable insight on matters critical to our business.”
“On behalf of our Board and shareholders, I extend our collective heartfelt thanks and sincere appreciation to Steve Zelnak for the decades of service and insights he provided to our company. Steve always gave generously of his time and consistently provided thoughtful judgment, advice and more – all of which were invaluable to Martin Marietta’s success.”
With the addition of Mr. Wajsgras and retirement of Mr. Zelnak, Martin Marietta’s ten-member Board of Directors consists of nine outside independent directors, six of whom have joined since 2016.