Eagle Materials completes succession plan as Haack replaces CEO Powers

Sources: Eagle Materials Inc., Dallas, Texas; CP staff

Eagle Materials President and Chief Operating Officer Michael Haack will succeed Chief Executive Officer Dave Powers, who will retire July 1 but remain on the board of directors. The move culminates a multiyear succession plan and set of transition preparedness steps the board undertook over the last four years.

Haack joined the cement, aggregates, ready mixed and wallboard producer as COO in 2014 and was named president last year. He arrived at Eagle after 17 years in operations roles at Halliburton Energy Services. Powers is closing a 40-year career in building materials. He joined Eagle predecessor Centex Construction Products in 2002, and was named executive vice president for Gypsum three years later, and president and CEO in 2016.

"Michael has been instrumental in building upon the company’s enviable low cost positions and sustainable advantages, particularly as they relate to the scale of operations Eagle represents today," says Chairman Rick Stewart. “We are also grateful for the innumerable contributions Dave has made to the company during his tenure, and are delighted we will be able to retain the benefit of his perspectives as a board member.”

"I've been privileged to lead an organization that is the undisputed benchmark company in our industry today, and one whose future prospects have never been brighter," adds Powers, calling his successor well prepared to undertake a leading role “in conjunction with the truly extraordinary team in place at Eagle.”