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Eagle Materials Announces the Retirement of President and CEO, Steve Rowley; Dave Powers, Executive Vice President for Gypsum, To Succeed Rowley
"Steve has positioned Eagle for an exciting future. He has led the
doubling of the scale of our cement business and has guided the growth
of our gypsum wallboard business in achieving its nation-wide scope. He
also has successfully led the company through the longest and most
challenging construction market down-cycle in US history. Today the
company has the strength to capitalize on construction cycle
opportunities more powerfully than ever before," said
"I've been privileged to lead an organization that is the undisputed
benchmark company in our industry today, and one whose future prospects
have never been brighter," Rowley said. "The timing of my decision is
driven by recent surgery complications that are restricting my mobility
and my capability to fulfill what I view as the full set of CEO role
dimensions. I look forward to working with the board and management
during the transition, and to being available to management in an
advisory role for the next two years. It has been my personal priority
at Eagle to ensure we have exceptional bench strength in every key
position in the company and to maintain great options for succession,
regardless of timing. I am delighted that
"I am fully committed to advancing Eagle's strategy that has been
developed and implemented over Steve's tenure. My appointment should be
recognized as a change in leadership only, and not in any way a change
in strategy. We will remain focused on profitable growth and improvement
through cycles and will remain equally committed to not overpaying for
the privilege of achieving growth when investing. I believe the only way
to be successful through cycles is as the low-cost producer of
consistently high-quality products that meet our customers' needs,"
commented
About
View source version on businesswire.com: http://www.businesswire.com/news/home/20160125006504/en/
Executive
Vice President, Strategy,
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