MBH Michelmersh Brick Holdings Plc

5 December 2024

Michelmersh Brick Holdings Plc

("MBH", the "Company", or the "Group")

Directorate Change

Ryan Mahoney to succeed Peter Sharp as Chief Executive Officer

Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer, announces that Peter Sharp has informed the Board of his intention to retire as Chief Executive Officer ("CEO") and a Director of the Company during 2025.

As part of the Group's ongoing succession planning, and following a third-party-led recruitment process involving both internal and external candidates, the Board is pleased to announce that Ryan Mahoney will succeed Peter as CEO. Ryan has been with Michelmersh since 2021 as Chief Financial Officer ("CFO") and has worked closely with Peter as part of the Executive Team, accumulating a thorough and detailed understanding of the Company's operations and plays a key role in developing and executing the Group's strategy. 

A formal search process for a new CFO is underway, and following Peter's retirement from his role as CEO, he will become a retained industry adviser to the Board, enabling the Company to continue to benefit from his wealth of industry knowledge and expertise.

Chairman of Michelmersh, Tony Morris, commented:

"On behalf of the Board, I would like to thank Peter for his invaluable contribution and dedication to the Group over the past 20 years. I am delighted that he wishes to continue his association with the Company in his capacity as industry adviser, and that we are also able to announce the appointment of Ryan as his successor. 

"Since Ryan joined Michelmersh, he has had a significant impact across the organisation, as well as taking on an expanded role with responsibility for a number of Group-wide initiatives. Ryan has demonstrated his leadership skills as CFO and proven himself to be a critical part of the Executive Team, and the Board is delighted he will succeed Peter as CEO. This continuity of leadership, allied to the strong fundamentals of the Group, positions us well to execute on our strategy during 2025 and beyond."

Further announcements will be made in due course.

About Michelmersh Brick Holdings PLC:

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, FabSpeed, Freshfield Lane, Michelmersh, Floren.be and Hathern Terra Cotta. These divisions operate within a fully integrated business, combining the production of premium, precision-made bricks, pavers, special shaped bricks, bespoke Terra Cotta products and prefabricated brick components. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

Established in 1997, the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 122 million clay bricks and pavers per annum. Michelmersh currently owns most of the UK's premium manufacturing brick brands and is a leading specification brick and clay paving manufacturer.

Michelmersh strives to be a well invested, long term, sustainable, environmentally responsible business. Opportunity, training and security for all employees, whilst meeting the needs of stakeholders are at the forefront of everything we do. We aim to lead the way in producing some of Britain's premium clay products and enhancing our environment by adding value to the architectural landscape for generations to come.

We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".

Please visit the Group's websites at: www.mbhplc.co.uk, www.bimbricks.com and www.sustainablebrick.com