Ibstock has appointed Richard Akers as a Non-Executive Director and Chair Designate with effect from 5th May 2025

25 March 2025

Ibstock is pleased to announce that following a comprehensive selection process, it has appointed Richard Akers as a Non-Executive Director and Chair Designate with effect from 5th May 2025.

According to the Corporate Governance Code rules regarding independence, Jonathan Nicholls will step down as Chair and retire from the Board following the conclusion of the Company's Annual General Meeting (AGM) on 15th May 2025. Jonathan joined Ibstock’s Board as a Non-Executive Director in September 2015 and was appointed as Chair in May 2018. Richard will succeed Jonathan as Chair following the conclusion of the Company's AGM.

Richard brings a wealth of leadership experience and sector insight to the role having spent his career in the property, house building and land transaction industries, including twenty years with Land Securities Group PLC where he was a senior executive, member of the board, and managing director of the retail portfolio. He recently joined Miller Homes Limited as Chair in January 2025, prior to which he was the Chair of Redrow PLC until its merger with Barratt Developments PLC was completed in October 2024. Richard spent nine years in non-executive director roles with Barratt Developments PLC and is currently the Senior Independent Director at Shaftesbury Capital PLC. He has also held non-executive roles at Unite Group PLC, EMAAR Malls in Dubai and the Battersea Power Station Development Company and was a fellow of the Royal Institution of Chartered Surveyors.

Jonathan Nicholls said:

"It has been a pleasure to be part of Ibstock’s Board since its IPO in October 2015 and a privilege to have been Chair since 2018. I would like to thank my non-executive colleagues on the Board for their support, commitment and enthusiasm during my tenure. I look forward to working with Richard to ensure a smooth transition when he joins us in May. Finally, the success that Ibstock has achieved over the last few years is down to the excellent leadership of Joe Hudson our Chief Executive Officer ably supported by Chris McLeish, our Chief Financial Officer and I wish the business well for the future.”

Commenting on his appointment, Richard Akers said:

“I am delighted to be joining a company with strong growth ambitions at such an important time for the building industry. I look forward to working with the Board as well as Joe and the executive team as Ibstock continues to deliver on its current operational strategy.

Joe Hudson, Group Chief Executive, said:

“I would like to thank Jonathan for all his leadership and support over the last 9 years. His wisdom and counsel have helped Ibstock to navigate through challenging market conditions, as well as a significant investment programme. He has also been a real support to me personally. We are delighted to welcome Richard to Ibstock. He has strong experience as a chair and with our customer base which will be helpful as we capitalise on future recovery in our markets.”

The Company confirms that there are no further details to disclose under paragraph 6.4.8R(1) to (6) of the Listing Rules in relation to this appointment.

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