Ibstock chief executive to step down

The chief executive of Leicestershire brick-maker Ibstock has revealed he is to step down from the position after 22 years.

Wayne Sheppard will retire next year and be succeeded by Joe Hudson, current managing director, cement and concrete products at Aggregate Industries, who will join the company in early 2018.

Sheppard steered Ibstock through its flotation on the London Stock Exchange.

Jamie Pike, chairman, Ibstock, said: “Wayne has been instrumental in Ibstock’s success. As Chief Executive, he has led the Group through a successful IPO and delivered strong growth. We are extremely grateful to Wayne 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. 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.”

Sheppard said: “It has been a privilege to lead Ibstock through an exciting period of change and growth. I would like to thank all my colleagues throughout the business for their support. 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.”