David Hurcomb is retiring from his role as chief executive of NG Bailey Group in May 2024, after 14 years in the post.
He will be succeeded by Jonathan Stockton, who has held several senior roles within the business since joining in 2016 from Deloitte, including chief financial officer and chief operating officer. He was appointed to the group board in 2021, since when he has worked closely with David Hurcomb as part of this planned transition.
David Hurcomb 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 £1.4bn 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.”
Jonathan 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.”
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