Powers, 68, will remain on the board of directors at the US company which manufactures and distributes Portland cement, gypsum wallboard and recycled gypsum paperboard, concrete, sand and aggregates.
Current president and COO Michael Haack will succeed Powers as CEO. The company says the move represents the culmination of a multi-year succession plan and a comprehensive set of transition preparedness steps undertaken by the board over the last four years.
Powers joined Eagle as COO in 2014 from Halliburton Energy Services, where he had a 17-year career with successively significant operating positions, including management of global operations for Sperry Drilling, a US$3.5bn division with 8,000 employees globally. He was named president and COO at Eagle in 2018 in recognition of his increasing responsibilities and as reflective of his accomplishments in leading the operating organisation.
He has spent 40 years in the building materials industry. He joined Eagle Materials (formerly Centex Construction Products) in 2002, and in 2005 was promoted to executive VP for Gypsum. He became president and CEO of Eagle Materials in early 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 that Eagle represents today," said Rick Stewart, chairman of the board. “We are also enormously 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.”
