Saturday 2nd Jul, 2022

Boral selects new CEO

Industrial machinery manufacturer Metso has made new appointments to its executive team, including a new President for its Minerals Services business area.

Vik Bansal, currently the CEO of InfraBuild, has been appointed as Boral’s Chief Executive Officer and Managing Director.

Bansal has more than 30 years of leadership experience in managing complex industrial organisations. Between 2015 and 2021 he acted as CEO at Cleanaway, implementing the Footprint 2025 strategy.

Zlatko Todorcevski will remain in the CEO role until transition to Bansal is completed.

Boral Chairman Ryan Stokes said the Board is excited by the opportunity to work with Bansal and has confidence in his ability to lead Boral.

“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,” Stokes said.

“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.”

Bansal said he was delighted to be appointed as Boral’s CEO and Managing Director and to support Boral reach its potential and return value for shareholders.

“Boral is an iconic and compelling business with great assets and a well-respected and motivated workforce,” he said.

“I am excited to be part of Boral’s next phase of creating value for all its stakeholders through a culture of safety, and focus on service, sustainability and simplification.”

Stokes thanked Todorcevski for his contribution to the business and for continuing to lead the company during the transition.

“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,” Stokes said.

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

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 decarbonise our business and provide leading sustainable solutions to our customers,” Todorcevski said.

“I would like to thank Ryan and the Board for the opportunity to serve as Boral CEO, and for their ongoing support and counsel.”

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