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Brickworks (ASX: BKW) managing director Lindsay Partridge has announced his retirement after almost four decades with the group, and will be replaced by current chief operating officer (COO) Mark Ellenor who led the company's successful expansion into North America.
Partridge started out at Brickworks subsidiary Austral Bricks in 1985 and became its general manager in 1989 - a position he held until 1999 when he was promoted to CEO and then managing director a year later.
Brickworks has praised Partridge's leadership in growing the company from a small operation with an asset base of $500 million to a large multinational organisation with an asset base of $6 billion.
"On behalf of the board and the Brickworks team, I would like to thank Lindsay for his outstanding dedication and leadership and the remarkable contribution he has made in growing and reshaping the Brickworks Group from a small brick making company to an ASX 150 listed company comprising successful international building products and large-scale industrial property JV (joint venture) businesses," says Brickworks chairman Robert Millner.
"He has made an extraordinary contribution to Brickworks and to the Australian building, construction and housing industry having been awarded a Member of the Order of Australia and the Housing Industry Association Sir Phillip Lynch Award."
Partridge says Brickworks' achievements wouldn't have been possible without the dedication of all Brickworks staff, and "more importantly the steady guidance and vision of Robert Millner and all of the current and past directors".
"It is hard to believe that when I joined the company the market capitalisation of Brickworks was barely $150 million. None of us would have believed that almost 40 years later it would grow to where it is today," he says.
"We have built a talented team of senior executives and I look forward to continuing to work with Mark as he moves into his new role."
Having joined the group as a graduate 25 years ago, Mark Ellenor starts as managing director today with a fixed remuneration of $1.05 million plus incentives.
He was previously president of Brickworks' North American operations for five years, and as part of a succession plan in August 2022 he took on the role of general manager for building products in August 2022 - a position that covered leading brands such as Austral Bricks, Austral Masonry and Bristile Roofing, as well as Building Products North America which is the leading brick producer in the northeastern United States and includes the flagship brand Glen-Gery.
In August 2023 he returned to Australia as COO of the broader group.
"Mark is well suited to lead Brickworks through the next chapter of growth and performance," says Millner.
"Mark brings to the role a deep understanding of brick, rooftile and masonry manufacturing, supply and distribution in Australia and North America.
"He has delivered on multiple plant rationalisations and capital expenditure programs and the positioning of brick as a style choice to architects through the design studio footprint."
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