After 10 years on the Board of The Weir Group PLC, Keith Cochrane will step down as Chief Executive. The Weir Group has appointed Jon Stanton as Chief Executive designate, succeeding Keith with effect as of 1 October 2016.
Cochrane stated: "It has been an honour to lead Weir and I am very proud of what we have achieved in the last 10 years. This is a great business with great people and I would like to thank everyone who has contributed to the success we have achieved. I know they will give Jon their full support as he takes the business forward. I wish him and Weir every success in the future.”
Cochrane served first as Group Finance Director and then, since 2009, as Chief Executive. He will step down from the board at the end of September, and will remain on hand to assist until the end of December 2016, when his employment with the company will end.
Stanton joined Weir in 2010 as Group Finance Director and has worked closely with Cochrane on the strategic and operational development of the business alongside providing strong financial leadership during that time. Before joining Weir, Cochrane was a partner at Ernst & Young advising several large international businesses.
Charles Berry, Chairman, commented: “Keith has demonstrated strong leadership over the last seven years and the substantial progress we have made during that time has been achieved through his passion, drive and determination. He has strengthened the group’s market position, extended our product portfolio and developed a customer-focused business model, which is both robust and agile in responding to changing market conditions. He leaves Weir in very good shape with a clear and successful strategy, strong operational performance and an experienced and capable leadership team. We are grateful for all he has done, and when he steps down, it will be with our very best wishes."
“Succession planning is a key task for the Board and we have carefully considered the attributes we require in the new Chief Executive of the Weir Group. Having assessed external and internal candidates, we are delighted that Jon will step up to the role. He has a strong track record both during his time at Weir and in his previous career and has developed a deep understanding of Weir's culture, operations and markets. The Board is confident that Jon will be highly successful as he leads the business forward."
Stanton said: "Weir is a special company and I am delighted to have been chosen to lead it through the next phase of its development. We have a very talented team and I am excited about working together to build on the success achieved over recent years."
Edited from press release by Harleigh Hobbs
Read the article online at: https://www.worldcoal.com/coal/02082016/new-chief-executive-for-the-weir-group-2128/