CRH chief announces retirement by end-2013, Ireland

CRH plc, the international building materials group, announces that Myles Lee, Group chief executive, has confirmed to the board his intention to retire from CRH at the end of 2013 having reached the age of 60, and following completion of a five year term as chief executive and 10 years as an executive director.

Myles joined CRH in 1982, joining the Board in November 2003 as Finance Director, later becoming Chief Executive in January 2009.

Commenting on the news, the Chairman Nicky Hartery said: “Myles has contributed very significantly over an extended period to the development and progress of CRH and continues to do so. By advising the Board of his decision well in advance of retirement, Myles has, in line with long-established CRH practice, facilitated the planning and management of his succession in an ordered and timely fashion. The Board has appointed a Committee, chaired by myself, to conduct the search for a successor to Myles.”