Martin Marietta appoint new chief financial officer
Michael J. Petro aims to advance company’s strategy while delivering long-term value for shareholders
MARTIN Marietta Materials Inc., one of the leading US suppliers of aggregates and heavy building materials, have announced the appointment of Michael J. Petro as senior vice-president and chief financial officer (CFO), effective immediately. Robert J. Cardin, who had been serving as the company’s interim CFO since April 2025, will continue in his role as senior vice-president, controller and chief accounting officer.
Mr Petro, who most recently served as senior vice-president of strategy and development at Martin Marietta, brings decades of financial leadership experience. Since joining the company in 2015, he has played a key role in formulating and executing the company’s strategic growth initiatives including through his work on successful portfolio-enhancing transactions that have greatly expanded Martin Marietta’s geographic footprint and improved the company’s product mix. These 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 the company, Mr Petro held roles as an investment banker and a consultant, where he developed a deep understanding of capital markets, financial analysis, forecasting, and process optimization. As CFO, Mr Petro will continue to oversee Martin Marietta’s Strategy and Development team.
‘On behalf of the board and management team, I am pleased to announce Michael’s promotion to chief financial officer,’ said Ward Nye, chair and chief executive officer of Martin Marietta. ‘Michael’s work both on and leading our Strategy and Development team over the past 10 years has meaningfully contributed to our company’s success. With his proven track record of delivering results and creating value, and his demonstrated leadership capabilities, we are confident Michael is the right person to lead our finance organization forward.’
Mr Nye continued: ‘I also want to acknowledge and thank Bob for stepping into the role of interim chief financial officer over the past several months and supporting a smooth and seamless transition. Bob is an extremely talented and highly valued member of our ONE team, and we look forward to continuing to benefit from his capable and effective leadership as he returns to his primary duties as senior vice-president, controller and chief accounting officer.’
‘I am honoured to be taking on the role of CFO,’ said Mr Petro. ‘Martin Marietta have a winning approach to capital allocation and a proven formula for success, and I look forward to continuing to advance our strategy while delivering compelling, long-term value for Martin Marietta shareholders.’
