Martin Marietta Materials has revealed the identity of its new chief financial officer after months of searching.
Michael J. Petro has been promoted at Martin Marietta Materials to its senior vice president and chief financial officer (CFO) with immediate effect. Robert J. Cardin who has been the interim CFO since April 2025 will continue to work as the senior vice president, controller and chief accounting officer.
“I am honoured to be taking on the role of CFO. Martin Marietta has 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,” Petro said.
Prior to being promoted to CFO, Petro worked as the senior vice president of strategy and development at Martin Marietta. He joined the company in 2015 and has focused on strategic growth initiatives. These have included 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 certain divestments.
Future focused
Petro worked as an investment banker and a consultant, specialising on capital markets, financial analysis and forecasting before joining Martin Marietta Materials.
“Michael’s work both on and leading our strategy and development team over the past ten years has meaningfully contributed to our company’s success,” Martin Marietta Materials chair and chief executive officer Ward Nye said.
“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 organisation forward.
“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.”
