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Summit Materials CEO succession plan mints industry's top female executive

Sources: Sources: Summit Materials, Inc., Denver; CP staff 

Nearly 11 years after founding Summit Materials, Thomas W. Hill has announced his retirement as president, chief executive officer and director, effective September 1, after which he will assume a senior advisor role for the remainder of the year and serve in a consulting capacity through July 2023. His successor in the C-suite and on the Summit board is Anne Noonan, who will arrive with 30-plus years' of senior leadership experience at publicly traded companies and become the highest ranking female among major North American cement, aggregate and concrete producers.

“Serving this Company alongside all of our talented team members has been the highlight of my professional career, and I am extremely proud of all that we have accomplished," says Hill, who helped launch Summit Materials with the help of Wall Street contacts gleaned during a prolific tenure at Oldcastle Materials. "I believe now is the right time for the Company to transition to its next leader and have great confidence in Anne, the strength of our team, and opportunities ahead.”

“Under [Tom's] guidance and stewardship, Summit transformed from a small, private construction company into a public company with annual net revenues of $2 billion," notes Chairman Howard Lance. “As Summit moves into its next phase of growth, we could not be more excited about appointing a CEO of Anne Noonan’s caliber to lead us forward. Anne brings proven leadership credentials and a strong track record."

Noonan most recently served as president and chief executive officer of OMNOVA Solutions Inc., a global producer of emulsion polymers, specialty chemicals, and decorative and functional surfaces. She arrived at OMNOVA in 2014 after nearly three decades with Chemtura Corp., a global manufacturer of specialty chemicals for whom she served as senior vice president and in executive capacities for various business units. She holds undergraduate and graduate degrees in chemistry and organometallic chemistry from University College Dublin, Ireland.