Ashtead Group Regulatory News (AHT)

3 September 2024

Ashtead Group plc ("Ashtead" or the "Group")

CFO Succession

Ashtead Group plc announces that Michael Pratt, chief financial officer (CFO), has notified the Board of his intention to retire in September 2025. 

As part of the Group's long-term succession planning, Ashtead is delighted to announce that Alex Pease will join the Group in October as CFO Designate. Alex, aged 52, was most recently CFO of WestRock Company from 2021 until its recent merger with Smurfit Kappa. Before that he served as CFO for three public companies of increasing global scale and complexity. Prior to transitioning to his financial leadership roles, Alex spent more than 10 years with McKinsey & Company in a wide range of advisory roles, leaving as a partner in 2011. He also served as a US Navy SEAL from 1994 to 2000. 

Alex will be based in Fort Mill, South Carolina. Over the coming months Michael will work closely with Alex to ensure a seamless transition. 

Brendan Horgan, Chief Executive of Ashtead, commented:

"On behalf of the Board, I would like to thank Michael for his relentless commitment to the organisation's success and many contributions he has made to the Group over the last 21 years in a variety of senior finance roles and as CFO since 2018. Through Michael's financial leadership, we have enhanced our balance sheet and financial capabilities to a position which provides us with great flexibility and optionality to grow and improve this business over the years to come. 

I look forward to Alex joining the group in October. He brings with him over 20 years of experience in finance, corporate strategy, M&A, capital markets, portfolio optimisation and broad-based business transformation. He is well placed to join the team as we begin the delivery of our Sunbelt 4.0 strategy."