- Push-out Score determined
- After 10 years in the position
- Praise, thanks and good wishes for Roberts
- Kyle Larkin taking over
(exechange) — Watsonville, California, September 28, 2020 — Jim Roberts, chief executive of Granite, leaves. As announced by Granite Construction Inc. in a news release and in a regulatory filing published on Monday, September 28, 2020, James H. (Jim) Roberts has left his post as chief executive officer at the construction and construction materials company after 10 years in the role, effective September 22, 2020.
Jim Roberts’s duties as CEO will be taken over by Kyle T. Larkin, most recently Chief Operating Officer of Granite Construction Inc., as Principal Executive Officer.
No reason given
In the announcement, Granite did not explicitly explain the reason for Jim Roberts’s move.
Precise information regarding Jim Roberts’s future plans was not immediately available.
“Retirement”
Granite said: “Granite Construction Incorporated (NYSE: GVA) announced the appointment of Kyle T. Larkin as President and Principal Executive Officer, as well as the upcoming retirement of President and Chief Executive Officer James H. Roberts. These changes were effective September 22, 2020.”
Share price decline
The announcement follows a decline in Granite Construction Inc.’s share price of 68% since September 2017.
Chaired by Claes G. Bjork
Claes G. Bjork serves as Granite Construction Inc.’s Chairman.
Bjork retired in 2002 as Chief Executive Officer of Skanska AB, Sweden, one of the world’s largest construction companies, a position he had held since 1997.
In the position of CEO since 2010
Jim Roberts became CEO of the Company in 2010.
Roberts is expected to remain with the Company for a period of time as Chief Executive Officer Emeritus, reporting directly to Larkin, to aid in a seamless transition.
As required by the Company’s Corporate Governance Guidelines, Roberts has also retired from the Company’s Board of Directors.
Effective with Larkin’s appointment, James H. Roberts has transitioned from President and Chief Executive Officer to Chief Executive Officer Emeritus.
Roberts plans to retire from the Company and is expected to continue to assist the Company with an orderly transition until then.
Roberts joined Granite in 1981 and has served in various capacities, including President and Chief Executive Officer since September 2010.
He also served as Executive Vice President and Chief Operating Officer from September 2009 to August 2010, Senior Vice President from May 2004 to September 2009, Granite West Manager from February 2007 to September 2009, Branch Division Manager from May 2004 to February 2007, Vice President and Assistant Branch Division Manager from 1999 to 2004, and Regional Manager of Nevada and Utah Operations from 1995 to 1999.
Roberts served as Chairman of The National Asphalt Pavement Association in 2006.
He received a B.S.C.E. in 1979 and an M.S.C.E. in 1980 from the University of California, Berkeley, and an M.B.A. from the University of Southern California in 1981.
He also completed the Stanford Executive Program in 2009.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Granite and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 40.2020 ($).