UK’s Ashtead Group has announced that Sat Dhaiwal, CEO of A-Plant, will retire from the company in July 2018.
Mr Dhaiwal – who will bow out after 25 years at the company – will be succeeded by Richard Thomas, who joined A-Plant as finance director in November 2011 and has been managing director of its specialist products division since July 2015.
The departing CEO joined A-Plant in 1993 and became CEO in 2002. In 1993, A-Plant had 52 depots to its name and had an annual turnover of £27 million (€30.56 million).The business has since grown to 179 depots and had an annual turnover of over £400 million (€452.67 million) in the 2016/17 financial year.
Geoff Drabble, CEO of Ashtead Group, said, “This has been well planned for some time. By stepping down next year, there is a 12-month handover period until Richard Thomas takes over.
“Although it isn’t the time to say goodbye yet, myself and the board would like to thank Sat for the tremendous job he has done as CEO of A-Plant and for his contribution to the growth of the company.”