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Sheppard out, Hudson in at helm of Ibstock

By Josh White

Date: Wednesday 11 Oct 2017

Sheppard out, Hudson in at helm of Ibstock

(ShareCast News) - Ibstock announced on Wednesday that Wayne Sheppard has notified the board of his intention to retire in 2018 after 22 years with the group - including the last two as chief executive.
The FTSE 250 brickmaker said Sheppard would be succeeded as CEO by Joe Hudson, currently the managing director for cement and concrete products at Aggregate Industries UK.

Hudson would join the board on his arrival in early 2018 as chief executive designate.

Ibstock said Sheppard would step down from the board and as chief executive after a handover period, but would remain available to the group "as required" until the end of 2018.

It said he steered the company through its IPO, and under his leadership Ibstock delivered "significant shareholder value" in its first years as a public listed company.

Hudson would bring "extensive experience" across the building materials and construction products industry, the board added, most recently at the UK subsidiary of Lafarge Holcim - Aggregate Industries - where he was responsible for the cement, concrete products and integrated businesses division.

It said he has held both functional and operational roles in Europe, Africa and North America, including chief executive at Lafarge Africa, and group senior vice president in organisation and human relations.

"Wayne has been instrumental in Ibstock's success," said the company's chairman Jamie Pike.

"As chief executive, he has led the group through a successful IPO and delivered strong growth."

Pike said the board was "extremely grateful" to Sheppard for his "immense contribution" to Ibstock and his commitment to ensure a smooth transition.

"We wish him well in his eventual retirement and on behalf of the board I thank him for his efforts and significant achievements.

"I am absolutely delighted that we have managed to secure the appointment of someone of Joe's calibre and experience," Pike added.

"His track record of performance at Aggregate Industries and Lafarge has been outstanding and we look forward to him leading Ibstock through the next stage of its development."

Wayne Sheppard said it had been "a privilege" to lead Ibstock through a period of change and growth.

"I would like to thank all my colleagues throughout the business for their support," he added.

"We have an in-depth team of experienced people and I know they will give Joe every support as he drives the business forward.

"The group is in an incredibly strong position and I look forward to watching it grow and prosper in the years ahead."


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