Manifold to succeed Lee as CRH chief executive

Albert Manifold has been appointed as group chief executive of construction giant CRH, effective January 1, 2014.

It follows the retirement of the current chief executive Myles Lee after 32 years with the company.

Manifold, 50, has been a board member and CRH chief operating officer since January 2009.

An accountant, he has held a variety of senior positions within CRH, including managing director of the Europe Materials division and group development director.

Prior to joining CRH in 1998, he held the position of chief operating officer with a private equity group.

"I am delighted to announce Albert's appointment as the next chief executive of CRH plc," said CRH chairman Nicky Hartery.

"As CRH chief operating officer, Albert has played a significant role in CRH's response to the challenging economic and trading conditions of recent years and in furthering CRH's development in emerging markets, particularly in Asia.

"This follows a comprehensive selection process led by the board's succession committee.

"Albert will succeed Myles in the New Year, facilitating an orderly transition at the chief executive level.

"Albert brings to his new role a deep knowledge of the industry and proven international executive experience.

"As chief executive, he will continue to develop and drive CRH's strategic agenda, to deliver sustainable long-term value for shareholders."