CEO Succession Announcement

Weir Group PLC

30 April 2026

 

30 April 2026   

Press Release

CEO succession announcement

Andrew Neilson to succeed Jon Stanton as Chief Executive Officer

The Weir Group Plc (Weir) today announces that, following ten years as Chief Executive Officer (CEO) during which time he has led Weir's strategic transformation into a global mining technology leader, and 16 years with Weir, Jon Stanton will step down as CEO on 1 August 2026. He will be succeeded by Andrew Neilson who will be elected to the Board of Directors today, after the conclusion of the AGM, and will become CEO Designate, before assuming full responsibilities as CEO on 1 August.  

Andrew joined Weir in 2010 and is currently President of Minerals Division, the Company's largest Division. During the past three years at the helm of Minerals Division, Andrew has significantly expanded our markets and transformed the operating platform to deliver growth and higher profitability. Prior to this, he served as President of ESCO Division and previously led the highly successful integration of ESCO into Weir. Earlier in his career at Weir, Andrew led the Minerals business across Europe and North Africa and held senior corporate roles, overseeing strategy and mergers and acquisitions. Throughout his career at Weir, Andrew has always put safety first while delivering strong financial results and developing leadership talent. With his breadth of experience and deep knowledge of Weir, combined with his track record of delivery, Andrew is an exceptionally well qualified leader to execute the Company's strategy, driving Weir through its next phase of accelerating growth, with continued delivery of shareholder value.

Andrew will succeed Jon Stanton who joined Weir as CFO in 2010 and was appointed CEO in 2016. During his ten years as CEO, Jon has driven the repositioning of Weir into a focused mining hardware and software technology leader. Jon has led the exit of cyclical businesses and the acquisition of leading mining industry brands such as ESCO and Micromine, through disciplined capital allocation. He has facilitated the creation of multiple strategic growth initiatives to expand Weir's addressable markets with new technology and has embedded sustainability at the heart of the We are Weir business strategy. Jon has implemented the Performance Excellence programme which has delivered a significant expansion in operating margins and created a lean and scalable platform for long-term sustainable growth. During his tenure, Jon has created a strong and enduring culture, with safety and employee engagement at its core, and has championed Andrew's development.

Weir is now a stronger company and is well-positioned to become a quality compounder with significant long-term growth potential and best-in-class operating margins, delivering consistent cash generation and returns.

Barbara Jeremiah, Chair of Weir, said: "On behalf of the Board, I want to thank Jon and acknowledge his outstanding leadership over the last ten years. Weir has gone through enormous change under Jon's stewardship and we are a more focused, more successful, and more profitable business today thanks to his efforts. Jon's commitment to the success of our mining customers through our leading equipment and software platforms, means that Weir is stronger than ever, underpinned by the reshaping of our portfolio, our commitment to continuous improvement and our uncompromising dedication to working safely in our facilities and on our customers' sites.   

I am delighted to announce that Andrew will be our next CEO. He brings a fundamental understanding of our businesses and a commitment to growth and continuous improvement. This, together with his deep conviction in our We are Weir promise to one another and to our shareholders, make him uniquely qualified to lead Weir and deliver on the high ambitions we have set for ourselves. Andrew's dedication to helping every Weir colleague thrive and succeed is unmatched and this underpins the Board's confidence in a continuation of the success we have experienced during Jon's tenure."

Jon Stanton, CEO of Weir, said: "It has been an immense privilege to lead Weir but after ten years and with the company in great shape it is the right time for a leadership transition. Over its long history, Weir has brought innovative engineering to solve the challenges of the time and I have loved every minute of the journey with my amazing colleagues to lead it to the forefront of the critical minerals challenge and create the multi-decade opportunity that lies ahead. Weir today is uniquely positioned for growth in the mining value chain with leading technology in equipment and software, unmatched customer intimacy and a strong operating platform. Throughout my tenure, Andrew has played a major role in Weir's strategic transformation and has huge followership as a leader across the business. I look forward to supporting his seamless transition and to watching the Weir team go from strength to strength as I begin my next chapter."

Andrew Neilson, CEO Designate of Weir, said: "I am incredibly honoured to be appointed as the next CEO of Weir, and grateful to Jon and all of the colleagues who have supported me on this journey. Weir is a very special company, with a rich engineering heritage and a great future ahead, being uniquely positioned to support our customers in meeting global critical mineral needs. We have the right strategy to deliver for all our stakeholders and I look forward to working with my 12,000 talented colleagues around the world to realise this tremendous growth opportunity and deliver on our mission to make mining more sustainable."

This announcement contains inside information. This is a public announcement pursuant to Article 17 Paragraph 1 of the European Market Abuse Regulation (596/2014), including as it forms part of UK law.

This announcement has been released by Jennifer Haddouk, Company Secretary.

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Summary of appointment process and arrangements in relation to Directorate changes

New CEO appointment process and transition

Andrew's appointment is the result of effective long-term succession planning and a rigorous Board-led process, supported by external advisers, which considered both internal and external candidates. The appointment criteria, which were extensively discussed and approved by the Board, reflected the Board's view that the next CEO's primary focus must be the delivery of shareholder value through strong top line growth enabled by customer proximity and technology leadership, continued operating effectiveness and disciplined capital allocation.

Andrew's remuneration arrangements

The Remuneration Committee reviewed the remuneration arrangements considered appropriate to support the recruitment and retention of a CEO within the parameters of Weir's shareholder approved remuneration policy.

Andrew will receive a base salary of GBP 825,000 per annum. This has been set taking into account the scale and responsibilities of the role and represents an appropriate initial positioning on appointment relative to the remuneration of the previous CEO, with reference to relevant market benchmarks. It is intended that Andrew's salary will be actively progressed in the near term as he establishes himself in the role, and reflecting performance and ongoing market benchmarking. Andrew will also receive the standard CEO benefits package and will be eligible to participate in the annual bonus and restricted share plan, all in line with Weir's existing remuneration policy.

Full details will be set out in the 2026 Directors' Remuneration Report.

Jon's remuneration arrangements

Jon will step down from the Board on 1 August 2026. It is anticipated that Jon will remain with the business until his notice period ends on 30 April 2027 and will support an orderly transition throughout that period as an advisor to the Board. In addition, given emerging opportunities in Weir's markets arising from geopolitics, natural resource security and technology shifts, the Board has asked Jon to support the company and the Board on these matters, during which time he will remain based in the US in an executive capacity. Full details of remuneration arrangements in relation to Jon's departure from Weir will be disclosed on the Company's website when Jon steps down from the Board in accordance with section 430(2B) of the Companies Act 2006.

About The Weir Group PLC

Founded in 1871, The Weir Group PLC is one of the world's leading engineering businesses with a purpose to make its mining and infrastructure customers' operations more sustainable and efficient. Weir's highly engineered technology and digital solutions enable critical resources to be produced using less energy, water and waste while reducing customers' total cost of ownership. The Group is ideally positioned to benefit from structural trends that support long-term demand for its technology including the need for more essential metals to support economic development and carbon transition. The Group has c.12,000 employees operating in over 50 countries with a presence in every major mining region of the world. Find out more at www.global.weir.

Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN) and its American Depositary Receipts trade over-the-counter in the USA (ticker: WEGRY).

Enquiries:
Investors: Philip Carlisle	[phone]
Media: Sally Jones	[phone]
CDR: Claire de Groot CDR: Sabine Pirone	[phone] [phone] [e-mail]

 

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