SIG (LSE:SHI), the insulation, HVAC and building products to contractors and merchants across Europe, said Chief Financial Officer Simon Kesterton will become Chief Executive Officer with effect from 1 May 2027.
Pim Vervaat will stay on as CEO until that date, when he transitions to non-executive Chair, a move that follows through on plans the company set out in July 2025, when Vervaat took up the CEO role before an intended switch to Chair roughly 18 months later.
The board has started a search for Kesterton's successor as CFO and will update the market on that process in due course.
Chair Andrew Allner said Kesterton "has brought valuable commercial insight and strong financial discipline to the business, as well as being integral to development of the Vision 2030 strategic plan."
The succession lands as SIG pushes to execute that plan, which targets at least £100m of cash generation by the end of 2027, a £50m run-rate operating profit improvement by mid-2028, leverage below 3.0x net debt to EBITDA and a 3% to 5% operating margin through the cycle.
Kesterton said he looked forward to "continuing to work with Pim, the Board and the wider leadership team through my transition to CEO, and beyond, to drive execution and to create long-term value for our shareholders."