(Alliance News) - Breedon Group PLC on Tuesday said it has promoted Rob Wood to the role of chief executive.
The construction materials group said Wood will succeed Pat Ward who took on the role in 2016 and intends to retire in 2021 to rejoin his family in the US.
Wood has served as finance director of the company since 2014 and has been "instrumental in the company's success", Breedon said. A search for a new finance director is underway.
"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," said Chair Amit Bhatia.
Shares in Breedon were trading 1.2% lower at 69.00 pence each on Tuesday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Breedon (BREE)