26.06.2018

Ashtead names new chairman

Ashtead has appointed Paul Walker, 60, as a non executive director and chairman designate.

The move follows the decision by current chairman Chris Cole to retire from Ashtead after this year’s Annual General Meeting on 11th September. Walker will take over as chairman on that date.

Walker is currently non executive chairman of Halma, the international safety and monitoring systems manufacturer, and a non executive director of credit checking company Experian and computer security group Sophos.

He was chief executive of the accounting software company Sage from 1994 to 2010, having joined the company as company accountant in 1984 when it was just three years old. He was promoted to finance director in 1987 and then chief executive in 1994. He began his career with accountants Ernst & Young, during which time he qualified as a chartered accountant. He has previously served on the boards of Diageo and Mytravel.
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Paul Walker

Chief executive Geoff Drabble 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.”

“I would also like to thank Chris for his significant contribution to the development of the board, the group and me personally. Chris has provided both strong leadership and wise counsel over a number of years. The success of the Ashtead group is well chronicled but the foundation of this success was undoubtedly the calm and steadying influence Chris demonstrated in the very difficult 2008/9 recession. We wish Chris well in whatever are the next chapters in his highly successful career.”

Vertikal Comment

Ashtead appears to have landed a first class candidate to replace Chris Cole in what is an increasingly important role within publicly quoted companies such as Ashtead.

It will also be very interesting indeed to learn what such a prominent rental industry outsider makes of the sector. Although as a non executive the benefits of his analysis may well be limited to internal consumption.

From the outside this looks like a very positive appointment.