A SUCCESSION PLAN of FD-to-CEO has been maintained at FTSE 250 engineering group Weir, with Jon Stanton set to take the company’s reins.
Current Weir chief executive Keith Cochrane is to step down after ten years on its board – where he first served as Weir’s group FD.
Stanton took over from Cochrane in the finance role, and has worked closely with him on the strategic and operational aspects of the business – alongside his financial duties. Cochrane will step down from the board in September and stay with the business to ensure a smooth handover, through to December.
“Succession planning is a key task for the board and we have carefully considered the attributes we require in the new chief executive of the Weir Group,” said chairman Charles Berry.
“Having assessed external and internal candidates, we are delighted that Jon will step up to the role. He has a strong track record both during his time at Weir and in his previous career and has developed a deep understanding of Weir’s culture, operations and markets. The board is confident that Jon will be highly successful as he leads the business forward.”
Stanton is a former partner of Ernst & Young (now EY), where he was a lead auditor for a number of FTSE 100 clients.