CRH, the largest building materials producer in the United States, announced today that Chief Executive Officer Albert Manifold will retire at the end of the year, with Chief Financial Officer Jim Mintern set to succeed him. Manifold, who has led the company since 2014, will remain with CRH for an additional 12 months as an advisor following his retirement.
Manifold first joined CRH in 1998, overseeing the company during a significant period of growth and expansion. Under his leadership, CRH solidified its position as a market leader, generating approximately 75% of its core earnings in the U.S.
In his statement regarding his departure, Manifold expressed gratitude for the opportunity to lead the company, stating, “I am pleased that Jim, who has a deep understanding of CRH, will succeed me when I retire at the end of this year. Jim’s experience, capabilities, and ambition for the business ideally position him to lead the CRH team forward through an era of enormous opportunity.”
Jim Mintern, who has been a director on the CRH board since June 2021, brings over 30 years of experience in the building materials industry, including 22 years with CRH. Most recently, he played a pivotal role in the strategic transition of CRH’s primary listing from Dublin to the New York Stock Exchange last year.
Mintern expressed his excitement about taking on the role of CEO, highlighting CRH’s strong legacy of growth and financial performance. “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,” he said.
Richie Boucher, Chairman of CRH, noted that the company has a strong focus on succession planning. “With the support of independent advisors, we have followed best practices, including a review of external candidates, and we have carefully monitored the development plans for potential internal candidates,” he stated.
Boucher praised Mintern’s qualities and contributions to CRH, expressing confidence in his ability to lead the company. “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,” he added.
As CRH prepares for this leadership transition, the company is poised to continue its growth trajectory under Mintern’s guidance, capitalizing on the opportunities ahead in the building materials industry.