SGH shares fall after Boral CEO transition announcement
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More news: Shares in Seven Group Holdings, now SGH, have fallen after it announced that Vik Bansal, the chief executive and managing director of construction materials and building products supplier Boral, will step down in early 2026.
Bansal will join the board of SGH as a non-executive director after vacating the top job at its subsidiary Boral. Shares in SGH had fallen 3.8% to $52 at 10:19am AEST.
Boral CEO Vik Bansal to leave in early 2026
The news: Boral’s chief executive and managing director Vik Bansal intends to step down from his role at the construction materials and building products supplier in early 2026, although he will then join the board of parent company Seven Group Holdings (SGH).
The context: SGH also announced that Boral executive general manager - concrete and quarries (south) will be appointed chief operating officer effective from 1 July.
According to SGH, Bansal has focused on attracting “high calibre external leaders and advanced internal talent”, positioning the company for long-term growth across the infrastructure and residential markets while delivering “mid-teen EBIT margins through the cycle”.
Bansal was appointed to the leading roles in late 2022 and moved from position as head of InfraBuild. Bansal is also the former head of Cleanaway Waste Management, and currently chairs Sunstate Cement and landfill gas management business LGI.
Bansal was also appointed to the board of logistics provider Brambles earlier this year.
What they said: “Under Vik’s leadership, the Good to Great strategy and the Boral Way operating discipline have been deeply embedded, driving a disciplined focus on performance, stakeholder and cultural alignment,” SGH managing director and chief executive Ryan Stokes said.
“He has built a high-calibre team and led a step change in Boral’s operational and financial outcomes. We look forward to his continued contribution across SGH as a non-executive director.”
The source: ASX
