BUILDING MATERIALS group CRH has appointed Glenn Culpepper as group finance director designate to succeed Myles Lee, who is due to take over as chief executive in January.

Mr Culpepper, aged 52 and a US citizen, is a CPA and MBA and joined CRH in 1989.

He has held a variety of positions in CRH's US operations and has been chief financial officer of the company's Americas materials division since 1995. Mr Culpepper will take up his new position in Dublin and join the CRH board in January 2009.

However, analysts say the appointment of an executive from the American division to the chief financial officer's position should not be seen as an attempt to smooth over any difficulties caused by Mr Lee's appointment as chief executive designate following the succession race to replace outgoing chief executive Liam O'Mahony.

In June, the head of CRH's American business, Tom Hill, announced his resignation from the company having been passed over for the top job.

Mr Hill, who played a key role in CRH's biggest deal, the €1 billion purchase of US asphalt producer Apac, was considered by some observers as the favourite for the chief executive's job and his decision to quit came just a month after Mr Lee was named as chief executive designate. That prompted a management shake-up in CRH's American business

"I don't think you could look at it in that way," said John Sheehan, an analyst with NCB Stockbrokers.

"I imagine there would be a pretty rigorous appointments processes.

With nearly 20 years at the company and currently heading up finance function of the materials business, which is the single biggest part of the US operation, Mr Culpepper would be regarded as a natural choice for the chief financial officer's position, he said.

"While he wouldn't be known to the market in a big way, he's been chief financial officer of the US materials business since 1995. That would be one of the most senior roles in finance across the group.

"He would certainly would have been well up anyone's list of candidates for the job when it did come up."

Mr Culpepper's 19 years at CRH means he is well-grounded in the company's business and methods of operation, said Mr Sheehan.

"I presume he would have been heavily involved in acquisitions that division has done over the years such as Apac. He's very well grounded," he said.