Granite Announces Appointment of Kyle T. Larkin as President and Principal Executive Officer

Announces Upcoming Retirement of CEO James H. Roberts

Mr. Roberts to remain with Granite as CEO Emeritus during transition

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) announced the appointment of Kyle T. Larkin as President and Principal Executive Officer, as well as the upcoming retirement of President and Chief Executive Officer James H. Roberts. These changes were effective September 22, 2020.

Mr. Larkin, age 49, has been an integral part of Granite’s evolution and growth since joining the Company in 1996, and since February 2020, has been responsible for day-to-day operations of the company as Executive Vice President and Chief Operating Officer.

“The Board of Directors has the utmost confidence in Kyle Larkin’s ability to lead Granite and execute the Company’s strategy,” said Claes G. Bjork, Chairman of the Board of Directors. “On behalf of both the Board of Directors and Granite’s management team, we thank Jim Roberts for his many decades of dedicated service and wish him all the best in his upcoming retirement from Granite. We believe Kyle’s strategic focus and vision will build upon Granite’s success as an industry leader as the Company nears its 100^th year. Mike McNally, our incoming Chairman of the Board and retired CEO of Skanska, USA, and I look forward to working with Kyle as he transitions into his new role.”

Prior to his role as Executive Vice President and Chief Operating Officer, Mr. Larkin held a variety of positions with successive responsibility within the Company, including serving as Senior Vice President and Group Manager from 2017 to 2019. In October 2019, the Company announced that Mr. Larkin would serve as Senior Vice President and Manager of Construction and Materials Operations. Previously, Mr. Larkin served as Vice President and Regional Manager in Nevada from January 2014 to September 2017, and President of Granite’s wholly owned subsidiary, Intermountain Slurry Seal, Inc. from 2011 to 2014. He also served as Manager of Construction for the Company’s Reno area office from 2008 to 2011, Chief Estimator from 2004 to 2008 and Project Manager, Project Engineer and Estimator at Granite’s Nevada Branch between 1996 and 2003. Mr. Larkin holds a Bachelor of Science degree in Construction Management from California Polytechnic State University, San Luis Obispo and a Master of Business Administration from the University of Massachusetts, Amherst.

Mr. Roberts is expected to remain with the Company for a period of time as Chief Executive Officer Emeritus, reporting directly to Mr. Larkin, to aid in a seamless transition. As required by the Company’s Corporate Governance Guidelines, Mr. Roberts has also retired from the Company’s Board of Directors.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for eleven consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.

Forward-looking Statements

Any statements contained in this press release that are not based on historical facts, including statements regarding future events, occurrences, circumstances, activities, outcomes, outlook, guidance and expectations constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by words such as “plans,” “expected” or other comparable terminology or by the context in which they are made. These forward-looking statements are estimates reflecting the best judgment of senior management and reflect our current expectations regarding future events, occurrences, circumstances, activities and outcomes. These expectations may or may not be realized. Some of these expectations may be based on beliefs, assumptions or estimates that may prove to be incorrect. These expectations are subject to numerous risks and uncertainties, many of which are beyond our control or directly controlled by others, which could result in our expectations not being realized. Such risks and uncertainties include, but are not limited to those described in greater detail in our filings with the Securities and Exchange Commission.

Due to the inherent risks and uncertainties associated with our forward-looking statements, the reader is cautioned not to place undue reliance on them. The reader is also cautioned that the forward-looking statements contained herein speak only as of the date of this press release and, except as required by law, we undertake no obligation to revise or update any forward-looking statements for any reason.

Source: Granite Construction Incorporated