Forterra Regulatory News (FORT)

22 November 2022

FORTERRA PLC

Appointment of Chief Executive Officer

The Board of Forterra plc ("Forterra") is pleased to announce that Neil Ash will become Chief Executive Officer designate of Forterra on 3 April 2023. This appointment follows the announcement on 24 May 2022 that Stephen Harrison would be stepping down as Chief Executive Officer ("CEO") during the first half of 2023, allowing time both to commission the new Desford brick factory and support an orderly transition.

Neil has almost three decades' experience in the building materials sector and an impressive track record of improving performance and delivering growth. Currently at Etex, the Belgian lightweight building materials manufacturer, he leads the Building Performance division which is a €2 billion revenue business. During his time at Etex Neil oversaw major capex projects, significant acquisitions, and developed its sales approach which delivered strong top line growth.

His experience includes 15 years at Lafarge, where he undertook many roles, including the role of Vice President International Business Development and Sales and Commercial Director UK & Ireland of Lafarge Plasterboard.

Justin Atkinson, Chairman, commented:

"We are very pleased to appoint Neil as the next CEO. His business leadership and extensive building materials sector knowledge will be invaluable to Forterra in the next stages of our development and the Board looks forward to working with him.

The Board and I are grateful to Stephen Harrison for the significant contribution he has made to the business during his tenure as CEO. We wish him all the best for the future after he leaves Forterra in the second quarter of 2023."

Regulatory Disclosures 

This announcement is made pursuant to the Company's obligations under Listing Rule 9.6.11(1)R.

The Company will disclose details of exit arrangements for Stephen Harrison on its website in due course, in accordance with its statutory obligations.

There is no further information to be disclosed under Listing Rule 9.6.13R.

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) No 596/2014.

Remuneration Arrangements

Neil's service agreement, remuneration and benefits will be consistent with Forterra's Remuneration Policy as approved by shareholders at the AGM in May 2020. 

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Richard Mountain / Nick Hasell