CRH chief executive Albert Manifold will be replaced by chief financial officer CFO Jim Mintern at the end of the year as he retires after a decade in charge of the largest building materials producer in the US, the company said today.
Albert Manifold has been CEO of CRH since 2014 and first joined the company in 1998.
In a statement, CRH said he will step down from his position at the end of the year but will continue as an advisor to the company for a further 12 months
Jim Mintern has been a director of the CRH board since June 2021.
He has over 30 years of experience in the building materials industry and 22 years with CRH, serving in various senior leadership roles.
Most recently, he led the strategic transition of CRH's primary listing from Dublin to the New York Stock Exchange last year.
Dublin-headquartered CRH is the largest building materials supplier in the US and generates about 75% of its core earnings there.
In a statement, CRH's CEO Albert Manifold said it had been a privilege to lead CRH.
"I am pleased that Jim, who has a deep understanding of CRH, will succeed me when I retire at the end of this year. Jim's experience, capabilities and ambition for the business ideally position him to lead the CRH team forward through an era of enormous opportunity," he said.
"I am profoundly grateful to my colleagues within the business and on the board for their commitment and support over the years as the entire team has strengthened and grown our company, positioning CRH for a bright future ahead," he added.
Jim Mintern, incoming CEO, said that CRH has an impressive legacy of continuous growth and financial performance by providing value enhancing solutions for its customers.
"I look forward to working alongside our highly talented team as we build on this foundation and continue to successfully grow the business while delivering exceptional returns for our shareholders," he added.
Richie Boucher, Chairman of CRH, said the company's board has a significant focus on succession planning throughout CRH.
"With the support of independent advisors, we have followed best practice, including a review of external candidates, and we have carefully monitored the development plans for potential internal candidates," he said.
"Over recent years we have closely observed Jim's character, qualities and abilities, as well as his significant influence on the evolution of CRH. We are very pleased to have a successor of such calibre and are confident that Jim is best positioned to lead the CRH team, building the future of the company for the benefit of our investors, customers, colleagues and communities," he said,
"Jim will become the chief executive officer of a high performing company in robust strategic and financial health, after 11 years of exceptional leadership from Albert," he added.
