Ashtead has announced that Alex Pease has been appointed as its permanent chief financial officer (CFO), having served as designate CFO since early September.

He will succeed Michael Pratt, who is set to retire in September 2025. Until this time, he will work with the group to "ensure a smooth transition of responsibilities".

Pease, who most recently served as CFO at WestRock Company from 2021, will become CFO at Ashtead with effect from 1 March 2025 and will be based in Fort Mill, South Carolina.

However, given the group’s intention to move its primary listing to the US, Pease will not be appointed to the board, in common with US practice.

Following Pratt’s retirement announcement, chief executive at Ashtead, Brendan Horgan, said: "On behalf of the board, I would like to thank Pratt for his relentless commitment to the organisation’s success and many contributions he has made to the group over the last 21 years in a variety of senior finance roles and as CFO since 2018.

"Through Pratt’s financial leadership, we have enhanced our balance sheet and financial capabilities to a position which provides us with great flexibility and optionality to grow and improve this business over the years to come."

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