Breedon Group plc has appointed Amit Bhatia as non-executive chairman, effective immediately, having previously served as deputy chairman since April 2018
He succeeds the current executive chairman, Peter Tom, who has decided the time is right for him to hand over to his successor and retire from the Board with immediate effect.
Amit Bhatia has valuable experience in the heavy building materials industry and brings with him significant financial expertise. He created Hope Construction Materials (“Hope”) and served as its executive chairman for over three years until it was acquired by Breedon in August 2016, at which point he joined the board.
Peter Tom commented: “I am delighted that the board has chosen Amit Bhatia as my successor. With many years of relevant commercial and board experience, I am confident that he will successfully lead Breedon’s board to deliver further sustainable value for our stakeholders, as the group continues to develop and grow.”
Commenting on his appointment, Amit Bhatia said: “It is a huge privilege to be asked to lead the board of Breedon. I joined the company three years ago through its transformational acquisition of Hope and I am more excited than ever to be playing my part in the group’s ongoing development.
“Peter was one of the principal architects of the group. He helped conceive a highly successful growth strategy and leaves behind a world-class management team under Pat Ward’s leadership. I would like to thank him on behalf of the business for his tremendous contribution during his time at Breedon and we wish him the very best for the future.”
Group chief executive, Pat Ward, commented: “It has been an honour to work with Peter, who has done so much to shape the Breedon of today. I am delighted to welcome Amit Bhatia as our new non-executive chairman and look forward to working with him as we continue to deliver our growth strategy.
“In his role as deputy chairman, Amit has already been playing a key part in assisting the executive management team in its review and development of the next phase in the group’s strategic evolution.”
Following this appointment, Breedon’s board will comprise two executive directors, three non-executive directors (including Susie Farnon as senior independent non-executive director) and the non-executive chairman.
Breedon Group remains committed to strong and effective corporate governance and intends to appoint two new independent non-executive directors by the 2020 AGM at the latest, with good progress being made in that respect.
