Martin Marietta CFO Anne Lloyd leaves post at short notice

  • Push-out Score suggests push-out forces
  • After around twelve years on the job
  • Accolades, praise, thanks and good wishes for Lloyd
  • Jim Nickolas taking over

(exechange) — Raleigh, North Carolina, June 22, 2017 — Anne Lloyd, finance chief of Martin Marietta, leaves the position. It is a change at short notice. As announced by Martin Marietta Materials, Inc. in a news release on Thursday, June 22, 2017, Anne H. Lloyd leaves the post as Chief Financial Officer at the supplier of building materials in a surprising move after around twelve years on the job, effective mid-August, 2017.

It is the end of an era.

Lloyd will remain with the company through September to ensure a smooth transition.

Lloyd’s duties are taken over by Jim Nickolas, currently Head of the Corporate Development group at Caterpillar Inc.

The fact that Lloyd’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.

In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.

No reason given

In the announcement, Martin Marietta did not explicitly explain the reason for Lloyd’s imminent move, leaving room for speculation.

Precise information about the future plans of Lloyd was not immediately available.

Wake-up call

Generally speaking, it is often an alarm signal for stockholders when a CFO leaves the position at short notice and without a reasonable explanation.

“Retire”

Martin Marietta said: “Anne H. Lloyd will retire as Executive Vice President and Chief Financial Officer of the company, effective mid-August, 2017.”

Share price rise since June 2012

The change follows a rise in the share price of Martin Marietta Materials, Inc. since June 2012.

Chaired by C.Howard Nye

Martin Marietta Materials, Inc. is chaired by C.Howard Nye.

Nye has served as Chairman of the Board since 2014, as President of Martin Marietta since 2006 and as Chief Executive Officer and a Director since 2010.

On the job as CFO since 2005

Anne H. Lloyd has been the Chief Financial Officer of Martin Marietta Materials, Inc. since June 1, 2005.

Anne H. Lloyd is Executive Vice President and Chief Financial Officer for Martin Marietta Materials. Lloyd has served as CFO since June 2005.

Lloyd joined Martin Marietta Materials in 1998 as Vice President and Controller and was promoted to Chief Accounting Officer in 1999.

Before joining Martin Marietta Materials, she was with Ernst & Young, LLP, an international public accounting firm.

Lloyd is a graduate of the University of North Carolina at Chapel Hill.

She holds a Bachelor of Science degree in Business Administration and is a Certified Public Accountant.

Lloyd is active in various business, education and civic organizations.

She served on the MAP-21 Reauthorization Committee of the National Stone Sand and Gravel Association (NSSGA).

Lloyd is Immediate Past Chair of the North Carolina Chamber of Commerce and serves on its Executive Committee, Personnel Committee, and Finance and Audit Committee.

She is also a Member of the NC Chamber Infrastructure and Economic Development Policy Committee.

Lloyd is a Board Member of Terra Nitrogen Company, L.P. and serves as the chair of its Audit Committee and as a member of its Corporate Governance and Nominating Committee.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Anne Lloyd’s imminent move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.

Read the full story in the exechange report 26.2017 ($).