Ibstock PLC CEO Succession (2512T)

TIDMIBST

RNS Number : 2512T

Ibstock PLC

11 October 2017

11 October 2017

Ibstock plc

("Ibstock" or "the Group")

CEO Succession

Wayne Sheppard to retire as Chief Executive in 2018

Joe Hudson appointed as Chief Executive Designate

Ibstock announces that Wayne Sheppard has notified the Board of his intention to retire in 2018 after 22 successful years with the Group, including the last two as Chief Executive of Ibstock plc. He will be succeeded as CEO by Joe Hudson, currently Managing Director, Cement & Concrete Products at Aggregate Industries UK, who will join the Board on his arrival in early 2018 as Chief Executive Designate.

Wayne will step down from the board and as Chief Executive after a handover period but will be available to the Group as required until the end of 2018.

Wayne steered the company through its successful IPO and under his leadership Ibstock has delivered significant shareholder value in its first years as a public listed company.

Joe has had extensive experience across the building materials and construction products industry, most recently at the UK subsidiary of Lafarge Holcim, Aggregate Industries, where he was responsible for the cement, concrete products and integrated businesses division. He has held both functional and operational roles in Europe, Africa and North America, including Chief Executive, Lafarge Africa plc and Group Senior Vice President in Organisation and HR.

Jamie Pike, Chairman, Ibstock, said:

"Wayne has been instrumental in Ibstock's success. As Chief Executive, he has led the Group through a successful IPO and delivered strong growth. We are extremely grateful to Wayne for his immense contribution to Ibstock and his commitment to ensure a smooth transition. We wish him well in his eventual retirement and on behalf of the Board I thank him for his efforts and significant achievements.

"I am absolutely delighted that we have managed to secure the appointment of someone of Joe's calibre and experience. His track record of performance at Aggregate Industries and Lafarge has been outstanding and we look forward to him leading Ibstock through the next stage of its development."

Wayne Sheppard, CEO, said:

"It has been a privilege to lead Ibstock through an exciting period of change and growth. I would like to thank all my colleagues throughout the business for their support. We have an in-depth team of experienced people and I know they will give Joe every support as he drives the business forward. The Group is in an incredibly strong position and I look forward to watching it grow and prosper in the years ahead."

In accordance with the UK Listing Rules, the Company confirms that there are no further details that are required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Joe Hudson, other than in respect of a previous directorship of Lafarge Africa Plc, held between 2011 and 2017.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

- Ends -

Enquiries

 
 Ibstock                   c/o Citigate + 44 (0) 
  Jamie Pike, Chairman      20 7638 9571 
 
  Citigate Dewe Rogerson 
                            + 44 (0)20 7638 9571 
 Kevin Smith 
 Nick Hayns 
 
 

Notes to Editors:

Ibstock plc is a leading manufacturer of clay bricks with a diversified range of clay and concrete products, and operations in the United Kingdom and the United States. Its principal products are clay bricks, brick components, concrete roof tiles, concrete substitutes for stone masonry, concrete fencing and general concrete building products.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 11, 2017 02:00 ET (06:00 GMT)