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Breedon Group PLC (BREE)

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Tuesday 06 October, 2020

Breedon Group PLC

Directorate Change

RNS Number : 1519B
Breedon Group PLC
06 October 2020
 

 

 

 

 

NEWS RELEASE
 

6 October 2020 

 

 

BREEDON GROUP PLC

("Breedon", "the Company" or "the Group")

 

Directorate Change

Rob Wood to succeed Pat Ward as Group Chief Executive

 

Pat Ward has informed the Board of his intention to retire as Group Chief Executive and a Director of the Company during 2021.  It is anticipated that he will be succeeded by Rob Wood, Breedon's Group Finance Director.

 

Pat has served as Group Chief Executive since the beginning of 2016 and has overseen a period of significant growth for the Group.  He now wishes to rejoin his family in the United States, after ensuring an orderly hand over to his successor.

 

The Board carries out regular and routine succession planning for senior positions involving both internal and external potential candidates and, following a comprehensive review , the Board has concluded that Rob Wood should succeed Pat as Group Chief Executive.  Rob has served as Group Finance Director of Breedon since early 2014 and has been instrumental in its success.  A search for a new Group Finance Director is now underway.

 

Breedon's Chairman, Amit Bhatia, commented: "Breedon has flourished under Pat's leadership over the last five years, during which time he and Rob have worked closely together on the development and execution of the Group's strategy.  He will leave the Group in excellent hands when the time comes and only after ensuring a seamless transition."

 

Further announcements will be made in due course.

 

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The information contained within this announcement is deemed by the Group to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

 

Note to editors

Breedon Group plc is a leading construction materials group in Great Britain and Ireland.  It operates two cement plants and an extensive network of quarries, asphalt plants and ready-mixed concrete plants, together with slate production, concrete and clay products manufacturing, contract surfacing and highway maintenance operations.  The Group employs over 3,500 people and has around 1 billion tonnes of mineral reserves and resources.  The Group's strategy is to continue growing through organic improvement and the acquisition of businesses in the heavyside construction materials market.

 

 

 

 

 

 

 

 

For further information:

 

Breedon Group plc

Stephen Jacobs, Group Head of Communications     07831 764592

 

Cenkos Securities   (NOMAD and Joint Broker)

Max Hartley/Harry Hargreaves                                                     020 7397 8900

 

Numis   (Joint Broker)

Ben Stoop/Heraclis Economides    020 7260 1000

 

Teneo

Matt Denham/ Rachel Miller      020 7420 3180

 

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