Vulcan Materials Limited’s Board of Directors has named J. Thomas Hill President and CEO. Hill, the company’s former Executive VP and COO, succeeds Donald James, who will assume the role of Executive Chairman.
The company also announced that it has promoted John McPherson to the position of Executive VP, Chief Financial and Strategy Officer.
Commenting on the appointment, James said: "Having successfully navigated the worst downturn in our industry's history, now is the right time to put in place our new leadership team, led by Tom, to guide the company and expand our market leadership in the industry.
“Tom has been a tremendous asset to our company over the years, particularly as we successfully enhanced Vulcan's profitability and financial strength during the market downturn and positioned the company for strong performance during the recovery. Tom is a proven leader with vast operational and industry experience and superlative management skills. He is the right person at the right time to lead our Company forward in its next phase of growth. Given his strong track record at Vulcan, deep understanding of our organization and close relationship with the management team, we are confident that Tom will transition seamlessly into this new role."
Speaking about McPherson’s promotion, James added: "John McPherson has proven to be an extremely valuable member of our senior management team since joining Vulcan in 2011. His experience as an investment banker and management consultant, and his successful tenure as one of Vulcan's regional senior vice presidents, have prepared him well to assist Tom in leading our company forward."
Vulcan’s new CEO, Hill, concluded: "I am honored to have the opportunity to lead such an exceptional company and team of professionals, with the best employees in the industry. Our newly formed executive team of John McPherson, Stan Bass, our West Region Senior Vice President, and Michael Mills, our Senior Vice President and General Counsel, along with our superior regional vice presidents, general managers and employees throughout the Company, are focused on the continuing strategic expansion of our world class assets and geographic footprint in high growth markets.
“We look forward to growing our best-in-class profit margins and markets, further strengthening our customer and community relationships, and building new opportunities for the growth and development of our employees. Building on our record of steady strategic growth in key US markets, we will further and significantly enhance Vulcan's unmatched competitive position in the industry. We firmly believe that our aggregates-focused growth strategy is the right one at the right time to generate substantial long-term value for our shareholders, employees and customers."
Adapted from press release by Katie Woodward
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