REG - Ibstock PLC - Appointment of Chair

IbstockAnnouncement

25/03/2025 07:15

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RNS Number : 9454B  Ibstock PLC  25 March 2025

25 March 2025

 

Ibstock plc

 

Directorate Change

 

Appointment of Chair

 

Ibstock plc ('Ibstock' or the 'Company'), a leading UK manufacturer of
building products and solutions, is pleased to announce that following a
comprehensive selection process, it has appointed Richard Akers as a
Non-Executive Director and Chair Designate with effect from 5th May 2025.

 

Pursuant to the Corporate Governance Code rules regarding independence,
Jonathan Nicholls will step down as Chair and retire from the Board following
the conclusion of the Company's Annual General Meeting (AGM) on 15th May 2025.
Jonathan joined Ibstock's Board as a Non-Executive Director in September 2015
and was appointed as Chair in May 2018. Richard will succeed Jonathan as Chair
following the conclusion of the Company's AGM.

 

Richard brings a wealth of leadership experience and sector insight to the
role having spent his career in the property, house building and land
transaction industries, including twenty years with Land Securities Group PLC
where he was a senior executive, member of the board, and managing director
of the retail portfolio. He recently joined Miller Homes Limited as Chair in
January 2025, prior to which he was the Chair of Redrow PLC until its merger
with Barratt Developments PLC completed in October 2024. Richard spent nine
years in non-executive director roles with Barratt Developments PLC and is
currently the Senior Independent Director at Shaftesbury Capital PLC. He has
also held non-executive roles at Unite Group PLC, EMAAR Malls in Dubai and the
Battersea Power Station Development Company and was a fellow of the Royal
Institution of Chartered Surveyors.

 

Jonathan Nicholls said:

 

"It has been a pleasure to be part of Ibstock's Board since its IPO in October
2015 and a privilege to have been Chair since 2018. I would like to thank my
non-executive colleagues on the Board for their support, commitment and
enthusiasm during my tenure. I look forward to working with Richard to ensure
a smooth transition when he joins us in May. Finally, the success that Ibstock
has achieved over the last few years is down to the excellent leadership of
Joe Hudson our Chief Executive Officer ably supported by Chris McLeish, our
Chief Financial Officer and I wish the business well for the future."

 

Commenting on his appointment, Richard Akers said:

 

"I am delighted to be joining a company with strong growth ambitions at such
an important time for the building industry. I look forward to working with
the Board as well as Joe and the executive team as Ibstock continues to
deliver on its current operational strategy.

 

Joe Hudson, Group Chief Executive, said:

 

"I would like to thank Jonathan for all his leadership and support over the
last 9 years. His wisdom and counsel have helped Ibstock to navigate through
challenging market conditions, as well as a significant investment programme.
He has also been a real support to me personally. We are delighted to welcome
Richard to Ibstock. He has strong experience as a chair and with our customer
base which will be helpful as we capitalise on future recovery in our
markets."

The Company confirms that there are no further details to disclose under
paragraph 6.4.8R(1) to (6) of the Listing Rules in relation to this
appointment.

Enquiries:

 Ibstock plc                            01530 261 999
 Jonathan Nicholls (Chair)

 Nick Giles (Group Company Secretary)

 CDR                                    020 7638 9571
 Kevin Smith

 

 

 

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