Construction materials group Breedon says it anticipates that its finance director Rob Wood will replace Pat Ward as group chief executive next year.
Ward has informed the Breedon board of his intention to retire as group chief executive and a director of the UK-based company during 2021.
Ward has served as group chief executive since the beginning of 2016 and Breedon says he has overseen a period of significant growth for the group. He now wishes to rejoin his family in the United States.
The Breedon board says that, following a comprehensive review, it has concluded that Rob Wood should succeed Ward. Wood has served as group finance director since early 2014 and the company says he has been instrumental in its success. A search for a new group finance director is now underway.
Breedon chairman Amit Bhatia commented: “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.”
The company says further announcements will be made in due course.
