LONDON: 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.”

Michelmersh Brick Holdings acquires Fabspeed for initial consideration of £6.25mn