Boral name new CEO and managing director

Vik Bansal to succeed Zlatko Todorcevski as chief executive officer before end of 2022

BORAL Ltd have today [8 June] announced the appointment of Vik Bansal as chief executive officer and managing director, effective on or before Monday 5 December 2022.

Mr Bansal has more than 30 years of leadership experience managing complex industrial organizations through significant growth, transition, and improvement. Between 2015 and 2021 he transformed Cleanaway, embedding strong financial and operational discipline, improving safety, and prioritizing customer service while developing a network of prized infrastructure.

Mr Bansal (pictured) is currently chief executive officer of InfraBuild where he has continued to deliver improvements across financial and operational metrics, demonstrating his ability to impact performance in a relatively short period of time.

Boral chairman Ryan Stokes said: ‘Vik is a seasoned leader with extensive experience and has a track record of instilling discipline and efficiency in complex businesses to create value for all stakeholders.

‘He is the right leader to guide the company into a new era. Vik has the passion, commitment and strategic leadership skills required to drive a performance-orientated culture with a focus on productivity, stakeholders, and leveraging Boral’s competitive advantages.’

Mr Bansal said: ‘Boral is an iconic and compelling business with great assets and a well-respected and motivated workforce. I am excited to be part of Boral’s next phase of creating value for all their stakeholders through a culture of safety and focus on service, sustainability, and simplification.’

Current incumbent Zlatko Todorcevski will remain in the chief executive officer role until the transition to Mr Bansal is completed.

Thanking Mr Todorcevski for his contribution to the business and for continuing to lead the company during the transition, Ryan Stokes said: ‘Over the last two years, Zlatko has overseen significant change, including a roadmap for the company’s transformation, the successful sale of non-core assets, and the return of proceeds to investors.

‘The Boral of today is a more focused business that now has the opportunity to prioritize efficiency, new opportunities, and growth. It is the right time to transition to a new leader.’

Mr Todorcevski said he was proud of his achievements at Boral and acknowledged the work of his team: ‘I am proud of what we have achieved over the last two years to return Boral’s focus to its core Australian operations, all while facing unprecedented challenges, including the worst of the pandemic, construction shutdowns, and floods. I am particularly proud of the leadership position Boral is taking to decarbonize the business and provide leading sustainable solutions to our customers.

‘I would like to thank Ryan and the board for the opportunity to serve as Boral’s chief executive officer, and for their ongoing support and counsel.’