1st Oct 2026 10:17
(Alliance News) - Breedon Group PLC on Thursday said current Chief Financial Officer James Brotherton will be appointed chief executive officer at the beginning of 2027.
Brotherton will replace Rob Wood as CEO from January 1, 2027. The Derby-based construction materials group said Wood decided to retire after 12 years with the company, including almost six years as CEO.
Brotherton has been CFO of Breedon since 2021 and has worked with Wood on the company's "expand and improve" strategy, which included the establishment of operations in the US and the move to the main market of the London Stock Exchange.
Breedon said it had started the recruitment process to appoint the next CFO.
Wood will remain an employee of the company until September 30, 2027 to ensure the transition process is smoothly executed. He said: "I am delighted that the board has chosen James [Brotherton] to succeed me, and I look forward to supporting both him and the board through this period of transition."
Davy Research analysts said they viewed the succession as "orderly" and did not anticipate any change in strategic direction.
However, Breedon shares fell 3.8% to 311.00 pence on Thursday morning in London.
In July, the company said it will maintain its annual guidance in line with market expectations, driven by positive momentum in Ireland and the US, but added that market indicators suggested a decline in demand in the UK for a fifth consecutive year.
The incoming CEO Brotherton said on Thursday: "We have an excellent business with high-quality and irreplaceable assets, strong market positions and talented colleagues. With attractive growth potential in the US and Ireland, and a material recovery opportunity in Great Britain, it is an exciting time to be taking on this role."
By Camilla Borri, Alliance News reporter
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