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CRH insider Mintern wins race for €3.5m finance chief job

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New role: Jim Mintern has over 30 years of experience in the building materials industry.

New role: Jim Mintern has over 30 years of experience in the building materials industry.

New role: Jim Mintern has over 30 years of experience in the building materials industry.

CRH has named insider Jim Mintern to take over as CFO, one of the best-paid jobs in corporate Ireland.

The current chief of staff to CEO Albert Manifold will take over as finance director from Senan Murphy who is retiring aged 52 from a job where he last year earned a pay packet of more than €3.5m – more than most Irish CEOs.

Mr Murphy, was an executive at Bank of Ireland where banker's pay is capped at €500,000 a year before moving to global building materials giant CRH.

The CRH pay is not guaranteed – Mr Murphy earned a basic salary of €985,000 in 2020, topped up with shares and share options of almost €2m and a cash bonus of €689,000.

He announced his intention to retire in September.

Another ex-Bank of Ireland executive, Andrew Keating, who is director of group finance at CRH had been tipped for the position.

Mr Mintern (54) has over 30 years of experience in the building materials industry, including nearly 20 years with CRH.

He joined CRH in Ireland as finance director for Roadstone in 2002.

Since then he has held several senior positions across the group, including country manager for Ireland and managing director of each of the Western and Eastern regions of the company’s Europe Materials business.

In his most recent role as chief of staff to Mr Manifold, he has worked closely with divisional and operational leadership, having oversight of group performance programmes. He was also involved in leading the planning and execution of some of the company’s recent large acquisitions including Ash Grove in North America in 2018, according to a statement from CRH.

Davy analyst Robert Gardiner said Mr Mintern brings “a broad mix of both operational and financial experience to the role”.

“Most recently, he had oversight of group performance programmes and led the integration of Ash Grove in North America. That deal will look better again if media reports on President Biden’s ‘Build Back Better’ plan prove accurate,” Mr Gardiner said.

“Initial proposals point to a $3trn plan, with significant funding to repair the nation’s roads, bridges, waterways and rail network,” he added.

A chartered accountant, Mr Mintern holds a Bachelor of Commerce degree from UCD.

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Mr Manifold said: “I am very pleased that Jim has been appointed to this role. His strong financial background, coupled with his extensive industry experience, prepares him well for this critical leadership role and comes at an important time for the group.”

CRH also announced the appointment of Caroline Dowling as a non-executive director.

Ms Dowling, an Irish citizen, was until her retirement in February 2018 a business group president of Flex, a Fortune 500 company with operations in 30 countries.

In this role she led the Telecommunications, Enterprise Compute, Networking and Cloud Data Center and was also responsible for managing the Global Services Division, supporting complex supply chains.

Ms Dowling is a non-executive director of DCC and IMI.

In its annual results released earlier this month CRH said its revenue last year dipped 2pc to $27.6bn (€22.9bn), while its earnings before interest, tax, depreciation and amortisation (Ebitda) was 5pc higher at $4.6bn.

At the time of the results Mr Manifold said the group had delivered record profitability, margins and cash generation despite the pandemic.

The company – the world’s second-largest building materials group – will also continue with its mergers and acquisitions (M&A) strategy. Mr Manifold said deals worth as much as $1bn could now be considered bolt-ons for CRH.


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