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Veteran Adelaide Brighton CEO to retire

Business

Adelaide Brighton chief executive Martin Brydon has signalled his intention to retire after 30 years with the building materials supplier.

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Adelaide Brighton says Brydon, who was appointed chief executive in 2014, will stay with the company while it considers internal and external candidates for the role.

The company has also confirmed Zlatko Todorcevski will succeed Leslie Hosking as chairman at the company’s annual general meeting today.

Martin Brydon. Photo: http://adbri.com.au

Todorcevski said Brydon has been an integral part of Adelaide Brighton’s growth and will leave the group in a very strong position.

During his four years at the helm, Adelaide Brighton has delivered total shareholder returns of 110 per cent.

“The Adelaide Brighton team is delivering record revenues, solid growth in underlying earnings and a strong return on our investments,” Todorcevski said today.

“Given our market position and track record, Adelaide Brighton expects to attract a large and high-quality field of both internal and external candidates.”

Hosking, who has also retired from the Adelaide Brighton board, has served as a director for 15 years and as a chairman for the past seven years.

– AAP

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