Martin Marietta Signals M&A Push with Hire of Top Cravath Dealmaker

RALEIGH, NC – February 11, 2026 – Martin Marietta Materials, Inc. (NYSE: MLM), a leading U.S. supplier of building materials, today announced a significant leadership appointment that signals a clear intent to accelerate its strategic growth and acquisition strategy. The company has named George F. Schoen, one of the nation’s foremost mergers and acquisitions attorneys, as its new Executive Vice President, General Counsel, and Corporate Secretary, effective March 2026.

Schoen joins from the elite law firm Cravath, Swaine & Moore LLP, where he served as Co-Chair of the Global Mergers and Acquisitions Practice. His move from the pinnacle of private practice to an in-house role is seen by industry analysts as a strategic power play by Martin Marietta as it embarks on its ambitious "SOAR 2030" long-term plan.

“George is an exceptional legal mind and a proven strategic advisor,” said Ward Nye, Chair and CEO of Martin Marietta, in a statement. “His extraordinary experience leading major public company transactions, combined with his deep understanding of corporate governance, and his superb advice to Martin Marietta over the years as outside counsel, make him uniquely suited to lead our legal function as we continue advancing our strategic and operational goals. We are delighted to welcome him to Martin Marietta.”

An Architect for Aggressive Growth

Schoen's appointment is not a routine executive shuffle; it is a direct alignment of leadership talent with corporate strategy. Martin Marietta recently launched "SOAR 2030," a long-range plan that explicitly identifies "disciplined M&A" as a foundational driver for long-term value creation. This strategy builds on the success of its "SOAR 2025" initiative, which involved approximately $16 billion in portfolio-shaping transactions.

The company has been actively refining its business to focus on its high-margin aggregates segment. This was highlighted by its February 2024 divestiture of South Texas cement operations for $2.1 billion and the simultaneous $2.05 billion acquisition of 20 active aggregates operations across the Southeast. These moves were designed to make Martin Marietta an increasingly aggregates-led business, with the company noting that aggregates now account for approximately 90% of its gross profit.

By bringing a top-tier dealmaker like Schoen in-house, Martin Marietta is equipping itself to aggressively pursue further "bolt-on" acquisitions of quarries and other assets, particularly in high-growth markets. The pre-existing relationship, noted by Nye, ensures Schoen can hit the ground running, already familiar with the company's strategic imperatives.

A Legal Heavyweight for a Consolidating Industry

The timing of Schoen's hire is critical, as the U.S. building materials industry is poised for a period of sustained activity and consolidation. The Infrastructure Investment and Jobs Act (IIJA) provides a long-term demand floor for aggregates, while massive private investments in data centers and energy projects create additional tailwinds.

However, the industry remains highly fragmented. The top five aggregates producers control only about 35% of the market, leaving ample room for strategic buyers like Martin Marietta to expand their footprint. Schoen’s resume is tailor-made for this environment. At Cravath, he advised on some of the most complex corporate transactions in recent history, including Disney’s acquisition of 21st Century Fox and Occidental Petroleum’s acquisition of Anadarko.

His accolades, including being named a “Dealmaker of the Year” by both The American Lawyer and the New York Law Journal, underscore his capability to navigate the intricate financial and regulatory hurdles of large-scale M&A. This expertise will be invaluable as Martin Marietta competes for high-quality assets in a market where strategic positioning is paramount.

Beyond Deal-Making: Fortifying Corporate Governance

While Schoen's M&A prowess is the headline, his deep experience in corporate governance and shareholder activism defense provides another layer of strategic value. As Martin Marietta grows in scale and complexity through acquisitions, its exposure to regulatory scrutiny, compliance challenges, and shareholder pressures will inevitably increase.

Schoen has a long track record of counseling boards and senior management on fiduciary duties and defending companies against activist investors. This defensive expertise serves as a critical fortification, allowing the management team to focus on executing its long-term strategy without being derailed by external pressures. In an era of heightened shareholder engagement, having a general counsel who is a recognized leader in crisis management and activism defense is a significant competitive advantage.

This dual expertise in both offensive growth (M&A) and defensive strategy (governance and activism defense) makes Schoen a uniquely powerful addition to the executive suite.

The Lure of In-House Leadership

Schoen’s transition from a top-tier law firm partnership to a corporate leadership role also reflects a broader trend in the legal profession. Increasingly, highly accomplished attorneys are choosing to move in-house to play a more direct, strategic role in a single enterprise's success. The modern corporate legal department has evolved from a cost center focused on risk mitigation to a strategic partner integral to business growth and execution.

For a lawyer who has spent a quarter-century advising a diverse portfolio of clients, the opportunity to apply that accumulated wisdom to the long-term value creation of one company can be a compelling new chapter. In his own statement, Schoen expressed this sentiment.

“I am honored to join Martin Marietta and excited for the opportunity to contribute to the Company’s continued success,” Schoen said. “Martin Marietta’s commitment to enterprise excellence, disciplined growth and long-term value creation is well known across the industry and beyond. I look forward to supporting the Company’s mission and working with the management team, Board of Directors and our dedicated employees to advance the Company’s strategic priorities.”

His move underscores the reality that for major corporations pursuing ambitious growth, attracting elite legal talent is no longer just about managing risk—it is a fundamental component of achieving strategic dominance.