REG - Ashtead Group PLC - Directorate Change - CFO Succession

AshteadAnnouncement

03/09/2024 07:00

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RNS Number : 6144C  Ashtead Group PLC  03 September 2024

 

3 September 2024

Ashtead Group plc ("Ashtead" or the "Group")

CFO Succession

Ashtead Group plc announces that Michael Pratt, chief financial officer (CFO),
has notified the Board of his intention to retire in September 2025.

As part of the Group's long-term succession planning, Ashtead is delighted to
announce that Alex Pease will join the Group in October as CFO Designate.
Alex, aged 52, was most recently CFO of WestRock Company from 2021 until its
recent merger with Smurfit Kappa.  Before that he served as CFO for three
public companies of increasing global scale and complexity.  Prior to
transitioning to his financial leadership roles, Alex spent more than 10 years
with McKinsey & Company in a wide range of advisory roles, leaving as a
partner in 2011.  He also served as a US Navy SEAL from 1994 to 2000.

Alex will be based in Fort Mill, South Carolina.  Over the coming months
Michael will work closely with Alex to ensure a seamless transition.

Brendan Horgan, Chief Executive of Ashtead, commented:

"On behalf of the Board, I would like to thank Michael for his relentless
commitment to the organisation's success and many contributions he has made to
the Group over the last 21 years in a variety of senior finance roles and as
CFO since 2018.  Through Michael's financial leadership, we have enhanced our
balance sheet and financial capabilities to a position which provides us with
great flexibility and optionality to grow and improve this business over the
years to come.

I look forward to Alex joining the group in October.  He brings with him over
20 years of experience in finance, corporate strategy, M&A, capital
markets, portfolio optimisation and broad-based business transformation.  He
is well placed to join the team as we begin the delivery of our Sunbelt 4.0
strategy."

 

 Enquiries:

 Ashtead Group        Will Shaw       +44 (0) 20 7726 9700

 H/Advisors Maitland  Sam Cartwright  +44 (0) 20 7379 5151

 

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