NG Bailey Group chief executive officer (CEO), David Hurcomb, will retire in May after 14 years of leadership.
Jonathan Stockton will succeed Hurcomb in the role of CEO at the independent engineering and services business.
Stockton joined NG Bailey in 2016 and has held several senior roles within the business, including chief financial officer and chief operating officer. He was appointed to the Board in 2021.
Following his retirement Hurcomb will continue to work closely with the business for a short period, to support the planned transition.
He said: “It has been a huge honour to have played my part during my time as chief executive in the ongoing success of what is a truly fantastic family-owned business.
“I am immensely proud of the many remarkable highlights and achievements there have been over the years, and it has been a pleasure to have worked with so many talented colleagues.
“Whilst we have faced undoubted challenges along the way, including Covid-19 and challenging wider market conditions in more recent times, I am delighted that the business is well on its way to pre-pandemic levels of performance.
“Indeed, early indications show an increase in turnover and expected double-digit profit figure for the 2023/4 financial year.
“Alongside this, our well diversified portfolio means we have a healthy £1.4 billion forward order book, with strong growth in sustainable markets.
“Looking ahead, I am certain we will further develop and innovate across our engineering and services divisions, ensuring we continue to make a positive impact in the key sectors we operate in and through the vital UK infrastructure projects we deliver.
“Finally, being able to fill my role by promoting from within is testament to the great people we have and significant investment we make as a business to develop our skills and talent.
“I would like to take this opportunity to wish Jonathan every success in his new role as he leads the group on the next phase of its exciting journey.”
Stockton added: “I am very much looking forward to my new appointment and taking on the position of chief executive officer, working with the Board, shareholders and senior leadership teams to lead the business through its next chapter.
“I would like to thank David for his ongoing support, and I wish him a much deserved, long and happy retirement.”
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