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Forterra CEO to step down

Stephen Harrison is to step down as CEO of UK construction materials provider Forterra.
By Liam McLoughlin May 27, 2022 Read time: 2 mins
Stephen Harrison is to leave Forterra after ten years as CEO
Stephen Harrison is to leave Forterra after ten years as CEO

The company says he will remain in the position until the first half of 2023 allowing time both to commission Forterra's new Desford brick factory and support an orderly transition.

Forterra says its board is commencing a process to appoint a successor and will provide an update in due course.

Chairman Justin Atkinson commented: "It has been a pleasure to work with Stephen since the IPO of the business and I would like to thank him both personally and on behalf of the board for his significant contribution to Forterra during that time. He will leave the business with a clear strategy, a strong balance sheet and an experienced management team. My colleagues and I wish him all the best for the future"

Harrison said that now was the right time for a change after ten years in his current role.

"I am proud to have led the company on its journey from non-core asset of a large corporation, through private equity ownership and IPO to be the successful independent business that Forterra is today," he added. "Forterra's strategy is clear and well-advanced, benefiting from strong cash generation to deliver a compelling organic investment pipeline.  I wish everyone at Forterra every future success and look forward to working with the Board to ensure a smooth transition to my successor."

The company has also released its AGM trading update reporting a continuation of strong trading conditions and an upgrade in the board's expectations for the year.

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