CRH has appointed Mr Liam O'Mahony as group chief executive designate.

Mr O'Mahony (52) will take up his new position on January 1st, 2000, following the retirement of the current chief executive of Oldcastle Inc, the holding company for CRH's North American operations.

Mr Godson, who has been group chief executive since 1994, will be just over 60 when he retires. He joined CRH as development manager in 1968 and moved to the US in 1977 to set up a group presence there, then became chief executive of US operations in 1978. He joined the CRH board in 1980.

Mr O'Mahony has been following in the footsteps of Mr Godson, having replaced him as chief executive of Oldcastle in 1994. Mr O'Mahony joined CRH in 1971 and has held senior positions within the group, including chief operating officer of the US operations and managing director, Republic of Ireland and UK companies. Reviewing the US operations in the CRH's annual report, published last week, Mr O'Mahony noted that the group had reached "new milestones" in the US in 1998. Sales exceeded $3 billion for the first time and trading profit amounted to £277 million, which was "a new record".

CRH does not disclose individual board remuneration. However, the annual report showed the five executive directors increased their remuneration by 13 per cent from an average of €616,990 (£486,000) in 1997 to €697,686 (£550,000) in 1998. The basic salaries rose by 17 per cent to an average of €407,351 (£321,000). The remainder was made up of bonuses and incentives based on targets.