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Oldcastle parent CRH sets chief executive transition

Albert Manifold, chief operating officer and board member for Dublin-based CRH Plc since January 2009, will become chief executive in January 2014, succeeding Myles Lee, who is retiring after 32 years with the company—the last five at the helm.

CRH

Since his 1998 switch from the private equity community to the parent of Atlanta-based Oldcastle Inc., the 50-year-old Manifold has served in senior management capacities including group development director and Europe Materials Division managing director. As COO, he has played what CRH officials note is a significant role in response to challenging economic and trading conditions, while furthering emerging-market development activities.

Following “a comprehensive selection process led by the Board’s Succession Committee,” observes CRH Chairman Nicky Hartery. “Albert [Manifold] brings to his new role a deep knowledge of the industry and proven international executive experience. As chief executive, he will continue to develop and drive CRH’s strategic agenda, to deliver sustainable long-term value for shareholders.”