REG - Michelmersh Brick - Ryan Mahoney to succeed Peter Sharp as CEO

Michelmersh Brick HoldingsAnnouncement

05/12/2024 07:15

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RNS Number : 8739O  Michelmersh Brick Holdings PLC  05 December 2024

 

 

5 December 2024

Michelmersh Brick Holdings Plc

("MBH", the "Company", or the "Group")

Directorate Change

Ryan Mahoney to succeed Peter Sharp as Chief Executive Officer

Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer,
announces that Peter Sharp has informed the Board of his intention to retire
as Chief Executive Officer ("CEO") and a Director of the Company during 2025.

As part of the Group's ongoing succession planning, and following a
third-party-led recruitment process involving both internal and external
candidates, the Board is pleased to announce that Ryan Mahoney will succeed
Peter as CEO. Ryan has been with Michelmersh since 2021 as Chief Financial
Officer ("CFO") and has worked closely with Peter as part of the Executive
Team, accumulating a thorough and detailed understanding of the Company's
operations and plays a key role in developing and executing the Group's
strategy.

A formal search process for a new CFO is underway, and following Peter's
retirement from his role as CEO, he will become a retained industry adviser to
the Board, enabling the Company to continue to benefit from his wealth of
industry knowledge and expertise.

Chairman of Michelmersh, Tony Morris, commented:

"On behalf of the Board, I would like to thank Peter for his invaluable
contribution and dedication to the Group over the past 20 years. I am
delighted that he wishes to continue his association with the Company in his
capacity as industry adviser, and that we are also able to announce the
appointment of Ryan as his successor.

"Since Ryan joined Michelmersh, he has had a significant impact across the
organisation, as well as taking on an expanded role with responsibility for a
number of Group-wide initiatives. Ryan has demonstrated his leadership skills
as CFO and proven himself to be a critical part of the Executive Team, and the
Board is delighted he will succeed Peter as CEO. This continuity of
leadership, allied to the strong fundamentals of the Group, positions us well
to execute on our strategy during 2025 and beyond."

Further announcements will be made in due course.

 Michelmersh Brick Holdings Plc                      Tel: +44 (0)1825 430 412

 Peter Sharp, Chief Executive Officer

 Ryan Mahoney, Chief Financial Officer
 Canaccord Genuity Limited (NOMAD and Joint Broker)  Tel: +44 (0)20 7523 8000

 Max Hartley

 Bobbie Hilliam

 Harry Pardoe
 Berenberg (Joint Broker)                            Tel: +44 (0)20 3207 7800

 Richard Bootle

 Detlir Elizi

 Patrick Dolaghan
 Yellow Jersey PR                                    Tel: +44 (0)7747 788 221

 Charles Goodwin                                     Tel: +44 (0)7775 194 357

 Annabelle Wills

 

About Michelmersh Brick Holdings PLC:

 

Michelmersh Brick Holdings PLC is a business with seven market leading brands:
Blockleys, Carlton, FabSpeed, Freshfield Lane, Michelmersh, Floren.be and
Hathern Terra Cotta. These divisions operate within a fully integrated
business, combining the production of premium, precision-made bricks, pavers,
special shaped bricks, bespoke Terra Cotta products and prefabricated brick
components. The Group also includes a landfill operator, New Acres Limited,
and seeks to develop future landfill and development opportunities on
ancillary land assets.

 

Established in 1997, the Company has grown through acquisition and organic
growth into a profitable and asset rich business, producing over 122 million
clay bricks and pavers per annum. Michelmersh currently owns most of the UK's
premium manufacturing brick brands and is a leading specification brick and
clay paving manufacturer.

 

Michelmersh strives to be a well invested, long term, sustainable,
environmentally responsible business. Opportunity, training and security for
all employees, whilst meeting the needs of stakeholders are at the forefront
of everything we do. We aim to lead the way in producing some of Britain's
premium clay products and enhancing our environment by adding value to the
architectural landscape for generations to come.

 

We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".

 

Please visit the Group's websites at: www.mbhplc.co.uk
(http://www.mbhplc.co.uk) , www.bimbricks.com (http://www.bimbricks.com)
 and www.sustainablebrick.com (http://www.sustainablebrick.com/)

 

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