Pike/Oldcastle president looks forward to change of pace

Pike/Oldcastle president looks forward to change of pace(BELMONT, New Hampshire) – Randy Pike, who has been at the helm of Pike Industries for the last 17 years, said he is ready to give up the administrative side of his business so that he will have more time to interact with people and get out to job sites. For the first time in 133 years, a member of the Pike family will no longer be in charge of Pike Industries. Randolph Keith Pike is stepping down as president and CEO of the paving, asphalt and aggregate company turning it over to Christian Zimmermann. Pike Industries owns and operates more than 50 gravel, aggregate and asphalt facilities throughout Maine, Vermont and New Hampshire and employs more than 1,300 people. When Pike steps down on January 1, 2005 as the president and CEO of Pike, and longtime employee Christian Zimmermann moves into his place, it will be the first time in the company’s 133-year history that a member of the Pike family has not been at the head of the company.In addition, Pike is giving up his position as the New England division president of Oldcastle Material Group, which owns Pike Industries. That position will be taken on by John J. Keating of Fitchburg, Mass., who has been with the company since the acquisition of his business in 1994. The company is very lucky to have both dedicated individuals, said Pike.”Both guys are young, ambitious and ready to step up,” he said of Zimmermann and Keating. With his new position as non-executive chairman, Pike said he will still be with the company full-time, but will have more time to get to job sites and do more acquisition work for the company. “I really enjoy the interaction with people and the day to day stuff,” he said, adding that he is not going to miss the numerous meetings and conference calls. “I don’t feel like I will be disconnected. It will take some time to adjust.” Pike said he will also be assisting Zimmermann and Keating with special projects they will have. “I will be giving out a lot of advice that no one will listen to,” he joked.The shifting of positions has been in the works since last year and while it was a difficult decision to make, Pike said. It was an even harder decision for his father, Milo L. Pike, to sell the company in 1988, he said. “It was a really big step for the Pike family,” he said.The company was sold to Cement Road Stone Holdings (CRH) which is based in Dublin, Ireland and known in the United States as Oldcastle Material Group.”It’s been a great place to work. The public company has been great,” said Pike, who became president when his father retired shortly after the purchase by CRH.In 1968, Pike spent his first summer working for the company, which was then L.M. Pike and Sons, named after his great, great grandfather, Luther Milo Pike. He worked summers until he graduated from Massachusetts Institute of Technology in 1977.For the first five years after graduation, Pike said he worked under his father full-time for the company, and then in 1978 left to start his own construction company, Keith Construction. In 1988, Pike said CRH bought both Pike Industries as well as Keith Construction and he went back to work for Pike. “I’ve really been lucky to have all of those opportunities,” he said. Working for his dad he learned a lot about the business, but owning his own business has been the most fun and the most rewarding, he said.In the last 17 years as president and CEO of Pike, he said he has tried to keep it as much of a family business as possible while still reporting to the public company. The construction company specializes in the production and installation of hot mix such as aggregate and asphalt and also other construction materials. In 1972, during the companies centennial celebration, Pike said his father changed the name to Pike Industries. For several years, the company was based out of Tilton near Interstate 93, however, they moved to Belmont off of Route 106 in the mid-1990s and have been there since. Pike said his sister also works for the company in the accounting department, and his daughter, who’s in her first year of college studying business, worked at Pike Industries last summer as an intern. He also has a son who is a freshman in high school. Melanie Nelson can be reached at 524-3800 ext. 5930 or by e-mail at mnelson@citizen.com

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