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Granite Construction Announces Executive Appointments
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01/16/2005
Granite Construction Incorporated (NYSE:GVA) announced today that its Board of Directors has appointed William G. Dorey, 58, to the position of President. Dorey retains the title of Chief Operating Officer. The Board also named Mark E. Boitano, 54, to the position of Executive Vice President. Boitano continues as Manager of the Branch Division. Both appointments are effective immediately.
Dorey succeeds David H. Watts as President. Watts will continue as Chairman and Chief Executive Officer until the end of the 2003, at which time he will relinquish the role of Chief Executive Officer but continue as Chairman of the Board. Watts has served as President and CEO since 1987. According to the Company's Board-approved management succession plan, Dorey would then succeed Watts as Chief Executive Officer effective January 1, 2004. Correspondingly, Boitano will succeed Dorey as the Company's Chief Operating Officer beginning January 1, 2004.
"Bill Dorey's 35 years of focus on operational excellence, including 12 years as Branch Division Manager and four years as Chief Operating Officer have prepared him well to assume the President's responsibilities," said Watts. "Coupled with Mark Boitano as the designated Chief Operating Officer with his 26 years of Granite experience, our succession plan provides for continuity and highly seasoned leadership. The Board's independent directors and I expect this team will continue to drive profitable growth in the future."
Granite Construction is one of the nation's largest heavy civil contractors and construction materials producers. Granite Construction Company serves both public and private sector clients through its offices nationwide. For more information about the Company, please visit its website at www.graniteconstruction.com.
