CRH group finance director Culpepper to stand down

CRH’S GROUP finance director, Glenn Culpepper, is stepping down from the post for personal reasons and will be succeeded by his deputy, Maeve Carton, the building materials multinational said yesterday.

Mr Culpepper, who rose through the ranks of CRH’s American operations, took over the finance job from Myles Lee in January last year when Mr Lee was promoted to chief executive.

Mr Culpepper resigned his seat on the CRH board yesterday and will leave the group and return to the US at the end of June.

Ms Carton will also join the group’s board. She is a chartered accountant and joined CRH in 1988. She has since held a number of roles in the finance area, including group controller and head of group of finance, the job she currently holds and to which she was appointed in January 2009.

Mr Lee said yesterday that she would bring “significant and comprehensive” experience to group finance director role.

Sources said the markets are likely to welcome Ms Carton’s appointment given her experience within the group.

The group’s board still includes a number of executives working for the group’s international operations. Mark Towe is the head of its Americas businesses, Doug Black leads its Americas materials operations and Bill Sandbrook, is responsible for Americas products and distribution.

The US division generates around half of CRH’s revenues.

Commenting on the changes yesterday, Mr Lee thanked Mr Culpepper for his work with the group both in the US and at its head office in Dublin.