CRH chief Manifold joins Mercury Engineering board

CRH chief executive Albert Manifold has joined the board of Mercury Engineering, one the Republic’s largest mechanical and electrical contractors, as he expands his non-executive roles.

The appointment comes as Mr Manifold’s contract with the building material giant is due to come to an end next year when he turns 62.

Dublin-based Mercury, which was subject to a management buyout in 2017 that valued the business at almost €150 million, said in a statement on its website on Thursday that Mr Manifold had become a board member at the start of the week.

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Mercury’s recent projects include responsibility for lighting and small power electrical installation at the National Children’s Hospital and work on various data centres.

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Mr Manifold, a qualified accountant and holder of a master’s in both business administration and strategic international marketing, joined CRH in 1998 and has been its chief executive since the start of 2014.

He has also been a non-executive director of Dutch plastics and chemicals group LyondellBasell Industries since 2019.

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“Albert’s appointment is an important step in Mercury’s strategy to grow our offering, drive ever higher standards and provide solutions to our clients in an increasingly complex world,” said the engineering group’s chief executive Eoin Vaughan.

CRH said in its latest annual report that while Mr Manifold’s contract of employment runs until he reaches 62 late next year, “no decisions have been taken in relation to the timing of succession for this role or potential candidates”.

Mercury was founded in 1972 by the late Frank O’Kane and Joe Morgan and has annual revenues of €1.5 billion. The 2018 buyout was led by Mr Vaughan and other senior directors.