The FTSE 100-listed equipment rental company said Chris Cole, who has been chairman of Ashtead since 2007 and previously as non-executive director, will retire from the company on 11 September and Paul Walker will assume the role of chairman on this date.
The company said Paul Walker is currently non-executive chairman of Halma PLC (LON:HLMA) and a non-executive director of Experian PLC (LON:EXPN) and Sophos Group PLC (LON:SOPH). He was CEO at the Sage Group PLC (LON:SGE) from 1994 to 2010 and has previously served on the boards of Diageo plc (LON:DGE) and Mytravel Group PLC.
Geoff Drabble, chief executive of Ashtead, said: “I would like to welcome Paul to the Ashtead Board and look forward to working with him on the ongoing delivery of our successful strategy to grow the Group through a combination of organic growth and acquisitions.”
In lunchtime trading, Ashtead’s shares rose 0.59% to 2,226.00p.