Vik Bansal appointed Boral’s CEO & Managing Director 

Boral has announced the appointment of Vik Bansal as Boral’s Chief Executive Officer (CEO) and Managing Director, effective on or before Monday 5 December 2022.  

Mr Bansal has more than 30 years of leadership experience in managing complex industrial organisations through significant growth, transition, and improvement. Between 2015 and 2021 he transformed Cleanaway, implementing the Footprint 2025 strategy, embedding strong financial and operational discipline, improving safety, and prioritising customer service while developing a network of prized infrastructure.

Mr Bansal is currently the CEO of InfraBuild where he has continued to deliver improvements across financial and operational metrics, demonstrating his ability to impact performance in a relatively short period of time.

Boral Chairman Ryan Stokes said the Board is excited by the opportunity to work with Mr 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.

“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.” 

Vik 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.

“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.”

Zlatko Todorcevski will remain in the CEO role until transition to Mr Bansal is completed. Mr Stokes thanked Mr Todorcevski for his contribution to the business and for continuing to lead the company during the transition.

Boral exploring options for North American Fly Ash business

Boral Limited (ASX:BLD) announced today that as part of the review of its North American Fly Ash business, it intends to explore value creation opportunities through a potential joint venture, strategic alliance, divestment to a third-party or continued ownership.

Boral has appointed advisors to support this value assessment and will provide an update to the market at its full year results announcement in August, or earlier if appropriate.

Boral’s CEO & Managing Director, Zlatko Todorcevski, said: “We have conducted a detailed study of the US fly ash industry and remain confident in the long term demand dynamics for the industry, including significant incremental demand growth potential from the US Government’s proposed new infrastructure program.

“New opportunities for supply exist from harvesting landfills, imports and natural pozzolans, which we expect will more than offset the decline in fresh fly ash supply as the US transitions away from coal fired power generation. As we continue to build our alternative supply strategy, strategic alliances and opportunities for partnership will be considered in parallel with divestment options or continued ownership.”