REG - Weir Group PLC - CEO Succession Announcement

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RNS Number : 4849C  Weir Group PLC  30 April 2026

30 April 2026

Press Release

CEO succession announcement

Andrew Neilson to succeed Jon Stanton as Chief Executive Officer

The Weir Group Plc (Weir) today announces that, following ten years as Chief
Executive Officer (CEO) during which time he has led Weir's strategic
transformation into a global mining technology leader, and 16 years with Weir,
Jon Stanton will step down as CEO on 1 August 2026. He will be succeeded by
Andrew Neilson who will be elected to the Board of Directors today, after the
conclusion of the AGM, and will become CEO Designate, before assuming full
responsibilities as CEO on 1 August.

Andrew joined Weir in 2010 and is currently President of Minerals Division,
the Company's largest Division. During the past three years at the helm of
Minerals Division, Andrew has significantly expanded our markets and
transformed the operating platform to deliver growth and higher profitability.
Prior to this, he served as President of ESCO Division and previously led the
highly successful integration of ESCO into Weir. Earlier in his career at
Weir, Andrew led the Minerals business across Europe and North Africa and held
senior corporate roles, overseeing strategy and mergers and acquisitions.
Throughout his career at Weir, Andrew has always put safety first while
delivering strong financial results and developing leadership talent. With his
breadth of experience and deep knowledge of Weir, combined with his track
record of delivery, Andrew is an exceptionally well qualified leader to
execute the Company's strategy, driving Weir through its next phase of
accelerating growth, with continued delivery of shareholder value.

Andrew will succeed Jon Stanton who joined Weir as CFO in 2010 and was
appointed CEO in 2016. During his ten years as CEO, Jon has driven the
repositioning of Weir into a focused mining hardware and software technology
leader. Jon has led the exit of cyclical businesses and the acquisition of
leading mining industry brands such as ESCO and Micromine, through disciplined
capital allocation. He has facilitated the creation of multiple strategic
growth initiatives to expand Weir's addressable markets with new technology
and has embedded sustainability at the heart of the We are Weir business
strategy. Jon has implemented the Performance Excellence programme which has
delivered a significant expansion in operating margins and created a lean and
scalable platform for long-term sustainable growth. During his tenure, Jon has
created a strong and enduring culture, with safety and employee engagement at
its core, and has championed Andrew's development.

Weir is now a stronger company and is well-positioned to become a quality
compounder with significant long-term growth potential and best-in-class
operating margins, delivering consistent cash generation and returns.

Barbara Jeremiah, Chair of Weir, said: "On behalf of the Board, I want to
thank Jon and acknowledge his outstanding leadership over the last ten years.
Weir has gone through enormous change under Jon's stewardship and we are a
more focused, more successful, and more profitable business today thanks to
his efforts. Jon's commitment to the success of our mining customers through
our leading equipment and software platforms, means that Weir is stronger than
ever, underpinned by the reshaping of our portfolio, our commitment to
continuous improvement and our uncompromising dedication to working safely in
our facilities and on our customers' sites.

I am delighted to announce that Andrew will be our next CEO. He brings a
fundamental understanding of our businesses and a commitment to growth and
continuous improvement. This, together with his deep conviction in our We are
Weir promise to one another and to our shareholders, make him uniquely
qualified to lead Weir and deliver on the high ambitions we have set for
ourselves. Andrew's dedication to helping every Weir colleague thrive and
succeed is unmatched and this underpins the Board's confidence in a
continuation of the success we have experienced during Jon's tenure."

Jon Stanton, CEO of Weir, said: "It has been an immense privilege to lead Weir
but after ten years and with the company in great shape it is the right time
for a leadership transition. Over its long history, Weir has brought
innovative engineering to solve the challenges of the time and I have loved
every minute of the journey with my amazing colleagues to lead it to the
forefront of the critical minerals challenge and create the multi-decade
opportunity that lies ahead. Weir today is uniquely positioned for growth in
the mining value chain with leading technology in equipment and software,
unmatched customer intimacy and a strong operating platform. Throughout my
tenure, Andrew has played a major role in Weir's strategic transformation and
has huge followership as a leader across the business. I look forward to
supporting his seamless transition and to watching the Weir team go from
strength to strength as I begin my next chapter."

Andrew Neilson, CEO Designate of Weir, said: "I am incredibly honoured to be
appointed as the next CEO of Weir, and grateful to Jon and all of the
colleagues who have supported me on this journey. Weir is a very special
company, with a rich engineering heritage and a great future ahead, being
uniquely positioned to support our customers in meeting global critical
mineral needs. We have the right strategy to deliver for all our stakeholders
and I look forward to working with my 12,000 talented colleagues around the
world to realise this tremendous growth opportunity and deliver on our mission
to make mining more sustainable."

This announcement contains inside information. This is a public announcement
pursuant to Article 17 Paragraph 1 of the European Market Abuse Regulation
(596/2014), including as it forms part of UK law.

This announcement has been released by Jennifer Haddouk, Company Secretary.

-ENDS-

Summary of appointment process and arrangements in relation to Directorate
changes

New CEO appointment process and transition

Andrew's appointment is the result of effective long-term succession planning
and a rigorous Board-led process, supported by external advisers, which
considered both internal and external candidates. The appointment criteria,
which were extensively discussed and approved by the Board, reflected the
Board's view that the next CEO's primary focus must be the delivery of
shareholder value through strong top line growth enabled by customer proximity
and technology leadership, continued operating effectiveness and disciplined
capital allocation.

Andrew's remuneration arrangements

The Remuneration Committee reviewed the remuneration arrangements considered
appropriate to support the recruitment and retention of a CEO within the
parameters of Weir's shareholder approved remuneration policy.

Andrew will receive a base salary of GBP 825,000 per annum. This has been set
taking into account the scale and responsibilities of the role and represents
an appropriate initial positioning on appointment relative to the remuneration
of the previous CEO, with reference to relevant market benchmarks. It is
intended that Andrew's salary will be actively progressed in the near term as
he establishes himself in the role, and reflecting performance and ongoing
market benchmarking. Andrew will also receive the standard CEO benefits
package and will be eligible to participate in the annual bonus and restricted
share plan, all in line with Weir's existing remuneration policy.

Full details will be set out in the 2026 Directors' Remuneration Report.

Jon's remuneration arrangements

Jon will step down from the Board on 1 August 2026. It is anticipated that Jon
will remain with the business until his notice period ends on 30 April 2027
and will support an orderly transition throughout that period as an advisor to
the Board. In addition, given emerging opportunities in Weir's markets arising
from geopolitics, natural resource security and technology shifts, the Board
has asked Jon to support the company and the Board on these matters, during
which time he will remain based in the US in an executive capacity. Full
details of remuneration arrangements in relation to Jon's departure from Weir
will be disclosed on the Company's website when Jon steps down from the Board
in accordance with section 430(2B) of the Companies Act 2006.

About The Weir Group PLC

Founded in 1871, The Weir Group PLC is one of the world's leading engineering
businesses with a purpose to make its mining and infrastructure customers'
operations more sustainable and efficient. Weir's highly engineered technology
and digital solutions enable critical resources to be produced using less
energy, water and waste while reducing customers' total cost of ownership. The
Group is ideally positioned to benefit from structural trends that support
long-term demand for its technology including the need for more essential
metals to support economic development and carbon transition. The Group has
c.12,000 employees operating in over 50 countries with a presence in every
major mining region of the world. Find out more at www.global.weir
(http://www.global.weir/) .

 

Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN)
and its American Depositary Receipts trade over-the-counter in the USA
(ticker: WEGRY).

 Enquiries:
 Investors: Philip Carlisle  +44 (0)141 308 3617
 Media: Sally Jones          +44 (0)141 308 3666
 CDR: Claire de Groot        +44 (0) 7767 254469

 CDR: Sabine Pirone          +44 (0) 7903 847557

                             weir@cdrconsultancy.com

 

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