Peter Tom steps down as Breedon Group chairman

Peter Tom has retired as executive chairman and board member at Great Britain and Ireland construction materials group 894 Breedon with immediate effect.

Amit Bhatia has been appointed non-executive chairman as his successor, effective immediately, having previously served as deputy chairman since April 2018.

Breedon Group says Bhatia has valuable experience in the heavy building materials industry and brings with him significant financial expertise. He created 7447 Hope Construction Materials and served as its executive chairman for over three years until it was acquired by Breedon in August 2016, at which point he joined the board.

Tom commented: “I am delighted that the Board has chosen Amit as my successor. With many years of relevant commercial and board experience, I am confident that he will successfully lead Breedon’s board to deliver further sustainable value for our stakeholders, as the group continues to develop and grow.

“I leave Breedon in great shape and am incredibly proud of what we have achieved since we created the company in 2010. I have the highest regard for [group chief executive] Pat Ward and the senior management team and I would also like to express my deep gratitude to all of my colleagues who have contributed so much to Breedon’s success.”

Bhatia said: “Peter was one of the principal architects of the group.  He helped conceive a highly successful growth strategy and leaves behind a world-class management team under Pat Ward’s leadership.  I would like to thank him on behalf of the business for his tremendous contribution during his time at Breedon and we wish him the very best for the future.”

Ward commented: “It has been an honour to work with Peter, who has done so much to shape the Breedon of today. I am delighted to welcome Amit as our new non-executive chairman and look forward to working with him as we continue to deliver our growth strategy. In his role as deputy chairman, Amit has already been playing a key part in assisting the executive management team in its review and development of the next phase in the Group’s strategic evolution.”

Following the appointment of Bhatia, Breedon’s board will comprise two executive directors, three non-executive directors (including Susie Farnon as senior independent non-executive director) and the non-executive chairman. The company says it "remains committed to strong and effective corporate governance" and intends to appoint two new independent non-executive directors by the 2020 AGM at the latest, with good progress being made in that respect.

Breedon Group operates two cement plants (one at Hope in Derbyshire and the other at Kinnegad in Ireland) and an extensive network of quarries, asphalt plants and ready-mixed concrete plants, together with slate production, concrete and clay products manufacturing, contract surfacing and highway maintenance operations. The group employs nearly 3,000 people and has nearly 900 million tonnes of mineral reserves and resources.