Vulcan announce CFO succession plan
Suzanne H. Wood to succeed John R. McPherson as company’s chief financial officer
VULCAN Materials Company, the largest producers of construction aggregates in the US, have announced a succession plan for the chief financial officer (CFO) position. The company has named Suzanne H. Wood as senior vice-president and CFO, effective 1 September 2018.
Ms Wood will succeed John R. McPherson, currently executive vice-president and chief financial and strategy officer. To ensure a smooth transition, Mr McPherson will continue to serve in his current capacity until the end of August, and will remain with Vulcan as chief strategy officer until the end of 2018.
Tom Hill, chairman and chief executive officer, said: ‘Vulcan has benefitted tremendously from John’s counsel and leadership over the years and we appreciate his commitment to a smooth handover. He has played a critical role in all of our endeavours as we have continued to build an even stronger, aggregates-focused company with strategic positions in high-growth markets across the US.’
Mr Hill continued: ‘After having engaged in a thoughtful search for a new CFO, we are delighted to welcome Suzanne Wood to Vulcan. She is a proven executive who will bring valuable experience and perspective to our senior team.
‘Suzanne most recently served as the CFO of Ashtead Group, a FTSE 50 international equipment rental company serving the construction industry and other markets. As such, she has a strong understanding of the end-markets we supply and of how to drive growth in a multi-local business.
‘During her tenure as CFO of Ashtead Group, the company’s revenues, profits and market value all increased significantly, while debt leverage declined. We look forward to her contributions to Vulcan’s future success.’
From 2012 to 2018, Ms Wood was group finance director and CFO of Ashtead Group plc, (2017 revenues of US$4.2 billion), and prior to that she was executive vice-president and CFO of Sunbelt Rentals Inc. She has also previously held CFO positions at Tultex Corporation and Oakwood Homes Corporation.
In her new capacity as senior vice-president and CFO of Vulcan, Ms Wood will report to chairman and CEO Tom Hill.