Meet the Granite Construction Board of Directors

If you're interested in the inner workings of Granite Construction, one of the largest infrastructure companies in the US, you might want to learn more about the company's board of directors. The board is responsible for providing guidance and oversight of the company's management team, and ultimately, helps drive the company's vision and strategy.

Who are the Members of Granite Construction's Board of Directors?

The Granite Construction board is made up of accomplished executives, with backgrounds in industries ranging from construction to engineering to finance. The current board consists of eleven members, each of whom brings a unique skillset to the table. The current board members are:

• William H. Armstrong III
• David H. Barlow
• Claes Bjork
• Martha Clark Goss
• Craig M. Fankhauser
• Claire W. Hall
• James H. Roberts
• Ronald J. Tutor
• Jody C. Thornton
• Anne M. Wagner
• William K. Koeberlein

William H. Armstrong III is the current Chairman of the Board of Directors at Granite Construction. He has been a member of the board since 2012 and has over 30 years of experience in the construction industry. David H. Barlow is the current President and CEO of Granite Construction. He has been with the company since 2012 and has over 25 years of experience in the construction industry.

The board of directors at Granite Construction is responsible for overseeing the company's strategic direction and ensuring that it is aligned with the interests of shareholders. They also provide guidance and support to the executive team, helping to ensure that the company is well-positioned for long-term success. With a diverse range of backgrounds and expertise, the board of directors at Granite Construction is well-equipped to guide the company through the challenges and opportunities of the construction industry.

What is the Role of the Board of Directors in Granite Construction?

At Granite Construction, the board of directors is responsible for providing strategic direction and guidance, as well as ensuring that the company operates in the best interests of its shareholders. The board works with senior management to set goals and strategy, establishes risk management policies, and provides oversight on critical issues.

One of the key responsibilities of the board of directors at Granite Construction is to ensure that the company complies with all legal and regulatory requirements. This includes overseeing the company's financial reporting and ensuring that it meets all accounting standards and regulations.

In addition to its oversight role, the board of directors at Granite Construction also plays an important role in shaping the company's culture and values. The board sets the tone for the company's ethical standards and ensures that they are upheld throughout the organization. This includes promoting diversity and inclusion, as well as ensuring that the company operates in an environmentally sustainable manner.

The History and Evolution of the Granite Construction Board of Directors

Granite Construction's board of directors has a long-standing history, dating back to the early years of the company's founding in 1922. Over the years, the board has evolved, adding members with diverse backgrounds and expertise to help guide the company on its path to success. Today, with eleven members, the board continues to play a critical role in Granite Construction's growth and expansion.

One of the most significant changes to the board of directors occurred in 1990 when the company went public. This move required the board to shift its focus from a small group of private investors to a larger group of shareholders. As a result, the board had to become more transparent and accountable to its stakeholders, which led to the addition of independent directors to the board.

Another important development in the board's history was the appointment of its first female member in 2005. This move was a significant step towards diversity and inclusion on the board, and it paved the way for the addition of more women and people of color to the board in the years that followed. Today, the board of directors is a diverse group of individuals with a wide range of backgrounds and experiences, all working together to ensure the continued success of Granite Construction.

What Qualifications do Members Need to Serve on Granite Construction's Board of Directors?

Granite Construction is committed to appointing directors with a diverse range of experiences, skills, and perspectives. The board looks for members who have experience in relevant industries, are able to effectively contribute their expertise, have high ethical standards, and are committed to the company's success. The board also values diversity and seeks to appoint directors who come from a wide range of backgrounds and experiences.

In addition to the above qualifications, members of Granite Construction's Board of Directors are expected to have a deep understanding of the company's business operations, financial performance, and strategic goals. They should be able to provide valuable insights and guidance to the company's management team, and help to identify and mitigate potential risks.

Furthermore, members of the board are expected to be active and engaged in their roles, attending all board meetings and participating in committees as needed. They should also be willing to devote the necessary time and effort to fulfill their responsibilities, including staying up-to-date on industry trends and developments that may impact the company.

How Does the Board of Directors Make Decisions at Granite Construction?

The board of directors at Granite Construction follows a rigorous process when making decisions. Directors receive information on issues ahead of board meetings, and engage in collaborative discussion and debate during meetings. Ultimately, decisions are made through a collective process, with the board working together to ensure that the company is operating in the best interests of shareholders.

In addition to the collaborative decision-making process, the board of directors at Granite Construction also places a strong emphasis on transparency and accountability. The board regularly communicates with shareholders and provides updates on company performance and decision-making processes.

Furthermore, the board of directors at Granite Construction is committed to diversity and inclusion. The board actively seeks out diverse perspectives and experiences when making decisions, and works to ensure that all voices are heard and valued.

The Impact of the Board of Directors on Granite Construction's Business Strategy

As previously mentioned, the board of directors plays a critical role in setting the strategic direction for Granite Construction. Board members bring their expertise to the table, inform critical decisions and contribute ideas to the strategy, mission and goals of the company. Through its collective expertise, the board supports and helps shape Granite Construction's business strategy and enables the company to achieve its goals.

Furthermore, the board of directors also ensures that Granite Construction operates in compliance with legal and ethical standards. They oversee the company's financial performance, risk management, and corporate governance practices. By providing oversight and guidance, the board helps to mitigate potential risks and maintain the company's reputation in the industry.

How Does Granite Construction Ensure Diversity and Inclusion on its Board of Directors?

Granite Construction is committed to promoting diversity and inclusion on its board of directors. The board actively seeks out candidates with a wide range of backgrounds and experiences, and ensures that its recruitment efforts are inclusive and widespread. The company recognizes that diversity and inclusion are essential to driving innovation, creativity, and effective decision-making, and has taken strides to promote diversity and inclusion at all levels of the organization.

One of the ways that Granite Construction ensures diversity and inclusion on its board of directors is by providing training and education to its current board members. The company offers workshops and seminars on topics such as unconscious bias, cultural competency, and inclusive leadership. By providing these resources, Granite Construction is able to create a more inclusive and welcoming environment for all board members, and ensure that everyone has the tools and knowledge necessary to promote diversity and inclusion within the organization.

The Relationship between the Board of Directors and Granite Construction's Shareholders

The board of directors at Granite Construction recognizes the critical role that shareholders play in the success of the company. The board is committed to fostering a strong relationship with shareholders, and regularly communicates with them to provide updates on the company's performance and strategic direction. Shareholders are also given the opportunity to engage with the board, ask questions, and express feedback, which is an important way in which the company is able to improve its operations and continue to grow.

In addition to regular communication and engagement opportunities, the board of directors at Granite Construction also values transparency in its relationship with shareholders. The company provides detailed financial reports and disclosures, as well as information on corporate governance practices and executive compensation. This level of transparency helps to build trust and confidence among shareholders, and demonstrates the board's commitment to accountability and responsible management of the company's resources.

The Challenges Faced by the Granite Construction Board of Directors in Today's Business Landscape

As with any company, the board of directors at Granite Construction faces a number of challenges, especially given the rapidly changing business landscape. From ever-evolving regulations to technological advancements, there are many factors that can impact the company's operations. The board works closely with senior management to identify these challenges and develop strategies to address them, helping to ensure that Granite Construction is able to succeed in today's ever-changing world.

One of the biggest challenges faced by the board of directors at Granite Construction is the increasing competition in the construction industry. With the rise of new players and the expansion of existing ones, the company must constantly find ways to differentiate itself and stay ahead of the curve. This requires a deep understanding of market trends and customer needs, as well as a willingness to invest in new technologies and processes that can improve efficiency and quality. By staying nimble and adaptable, the board of directors can help Granite Construction maintain its position as a leader in the industry.

What are Some Recent Decisions Made by Granite Construction's Board of Directors?

The board of directors at Granite Construction has made a number of critical decisions in recent years that have helped shape the company's success. In 2020, the board oversaw the company's acquisition of LiquiForce, a specialty contractor focused on sewer rehabilitation services. The acquisition has since helped strengthen Granite Construction's position in the market, and has enabled the company to provide a wider range of services to clients. Such strategic moves underscore the critical role that the board plays in shaping Granite Construction's growth and expansion.

In addition to the acquisition of LiquiForce, the board of directors at Granite Construction has also made significant investments in technology and innovation. In 2019, the company launched a new digital platform that streamlines project management and enhances communication between teams. This investment in technology has helped Granite Construction stay ahead of the curve in an increasingly competitive industry, and has enabled the company to deliver projects more efficiently and effectively.

Furthermore, the board of directors has also prioritized sustainability and social responsibility in recent years. In 2021, Granite Construction announced a new initiative to reduce its carbon footprint and promote sustainable practices across all of its operations. The company has also established partnerships with local organizations to support community development and education initiatives. These efforts demonstrate the board's commitment to not only driving business success, but also making a positive impact on society and the environment.

The Future Direction and Vision for the Granite Construction Board of Directors

Looking ahead, the board of directors at Granite Construction is committed to continuing to provide direction and support for the company's growth and expansion. The board is focused on driving innovation, pursuing new opportunities, and ensuring that the company continues to offer the highest quality services to clients. Through its unwavering commitment to the company's vision and mission, the board will help guide Granite Construction towards a strong and successful future.

One of the key areas of focus for the board of directors is sustainability. The company is committed to reducing its environmental impact and promoting sustainable practices throughout its operations. The board is exploring new technologies and strategies to achieve this goal, and is working closely with stakeholders to ensure that Granite Construction remains a leader in sustainable construction.

In addition, the board is committed to fostering a diverse and inclusive workplace. The company recognizes the value of a diverse workforce and is actively working to promote diversity and inclusion at all levels of the organization. The board is implementing new policies and initiatives to support this goal, and is committed to creating a workplace where all employees feel valued and respected.