New chairman for Granite Construction

Granite Construction Incorporated, the parent company of Granite Construction Company, one of the largest heavy civil contractors and construction materials producers in the US, has appointed William H Powell as its new chairman.

Mr Powell, who has been Granite's independent presiding director since May 2008, succeeds David H Watts who will continue as a director on the board.

Mr Watts said in a statement, "It has been a tremendous honour and privilege to serve as chairman for the past 11 years.

"I am very proud of what this great company has accomplished to create long-term shareholder value through the dedication and hard work of its employees and a vigilant but supportive Board. Bill Powell is a proven leader who has the vision and dedication to provide strong leadership in the years ahead."

Mr Powell will take over the position of chairman on 1 September 2009.