CRH announces CEO succession
CRH plc, the leading provider of building materials solutions, has announced that Albert Manifold has decided to retire as Chief Executive Officer at the end of 2024 and that he is to be succeeded by Jim Mintern. Jim Mintern (pictured right) is currently CRH’s Chief Financial Officer and has been a director of its 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.
Jim Mintern has deep industry knowledge, has led a variety of operational businesses, and is an accomplished developer of teams and people. He also has extensive portfolio management, financial and capital markets expertise. Most recently, Jim Mintern led the strategic transition of CRH’s primary listing to the New York Stock Exchange.
Albert Manifold (pictured left) has held varied responsibilities with CRH since he joined in 1998. He was appointed Chief Executive Officer in January 2014. Albert Manifold will step down from the board and relinquish his executive responsibilities on December 31, 2024. He will continue as an advisor to CRH for a further 12 months.
Announcing the appointment, Richie Boucher, Chairman of CRH, said: “The 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.”
“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 caliber 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.”
“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.”
“CRH has made enormous progress thanks to Albert’s clear vision and his leadership of a talented, hard-working team. CRH is a very focused, high performing group and is recognized by its customers as the industry’s leading provider of innovative building materials solutions. Under Albert’s leadership CRH has delivered superior growth and performance with consistently improving profitability, cash generation and returns.”
Chief Executive Officer Albert Manifold said: “I am pleased that Jim, who has a deep understanding of CRH, will succeed me when I retire at the end of this year. This will be his time.”
“Jim’s experience, capabilities and ambition for the business ideally position him to lead the CRH team forward through an era of enormous opportunity.”
“It has been a privilege to lead CRH. 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.”
Jim Mintern, incoming Chief Executive Officer, said: “It is an incredible honor for me to be appointed the next CEO at such an exciting time for CRH. 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.”
With operations spanning 28 countries, on four continents, CRH is the largest building materials business in North America, with operations in 48 US states and 7 Canadian provinces, employing 46,400 people. CRH is also the the largest building materials business in Europe, with operations in 22 European countries.
CRH’s origins are in Ireland, where in 1932, two brothers, Tom and Donal Roche, set up a sand-and-gravel haulage business. This would expand to become Roadstone Ltd, which then merged with Cement Ltd (now called Irish Cement), in 1970 to form CRH.
