Sources: Vulcan Materials Co., Birmingham, Ala.; CP staff
Elaine Chao, who headed the Department of Labor through President George W. Bush’s two terms (2001–2009), and Southern Co. chief Thomas Fanning have been elected Vulcan Materials directors for an interim period; both will be among 2015 director nominees for election at the Vulcan 2015 Annual Meeting of Shareholders in May.
“Elaine and Tom are highly accomplished individuals with outstanding track records. They bring unique expertise and experience to our Board [and] share Vulcan’s commitment to the highest standards of corporate governance,” says Chairman Don James.
The wife of Senate Majority Leader Mitch McConnell (R-KY), Chao is the first American woman of Asian descent to hold a U.S. Cabinet position. Under her leadership, the Labor Department focused on improving workforce competitiveness, and achieved record results in protecting workers’ health, safety, wages, and retirement security. Prior to the Labor appointment, she held various leadership roles in the public, private and non-profit sectors, including U.S. Department of Transportation deputy secretary and Federal Maritime Commission chairman; United Way of America president and chief executive officer; Peace Corps director; plus, Bank of America and Citicorp executive posts.
Fanning has been with Atlanta-based Southern Co., one of the country’s largest energy companies, for 30-plus years, serving as chairman, chief executive officer and president since 2010. He has guided development of a full portfolio of energy resources and strengthened the company’s culture of innovation and customer focus. Fanning chairs the Federal Reserve Bank of Atlanta and Electric Subsector Coordinating Council, which serves as the principal liaison between the federal government and power sector to protect the electric grid from threats that could impact national security. He is also Edison Electric Institute vice chairman and a Business Roundtable member.