CRH, the world's second-largest building materials supplier by market value, has appointed Richie Boucher as its new chairman.

He will replace Nicky Hartery, who will retire at the end of the year.

Mr Boucher, who was chief executive of Bank of Ireland between February 2009 and October 2017, joined the CRH board in March 2018 and has been chairman of the company's remuneration committee since September of that year. 

Born in Northern Rhodesia, Boucher spent 37 years in banking in Ireland, the UK and the US. 

He will succeed the present chairman on January 1, the company said in a statement today. 

Mr Boucher was at the helm of Bank of Ireland as it struggled with the impact of the financial crisis, implementing a major re-structuring plan that attracted the international investment that allowed the bank to fully repay a €4.7 billion state bailout. 

After stepping down from the bank in 2017, Boucher worked as an advisor to Fairfax Financial Holdings, a Toronto-based investment group led by Prem Watsa.

He is currently a non-executive director of US property group Kennedy Wilson, and Greek financial group Eurobank.

Nicky Hartery, who has been chairman of CRH since May 2012 and a board member since 2004, will retire from both roles on December 31. 

The company also appointed Johan Karlstrom, former president and chief executive officer of Skanska, as a non-executive director, with effect from September 25.

CRH posted record first-half earnings of €1.54 billion in August, driven by a jump in sales in its Europe Materials division. 

The world's largest cement buyer said earlier this year it had been able to lift prices in all markets for the first time in 15 years.

CRH shares were 1.8% higher in Dublin trade today.