UK's SIG names finance chief Simon Kesterton as next CEO

Oct 9 (Reuters) - British building materials supplier SIG said on Friday finance chief Simon Kesterton will succeed Pim Vervaat as CEO on May 1, 2027, as part of a planned management succession.

• Vervaat will remain chief executive until then before moving into the role of non-executive chair

• Kesterton, who previously served as CFO of construction and infrastructure firm Kier and packaging manufacturer RPC Group, joined SIG as CFO and executive director in May

• Chair Andrew Allner said Kesterton's commercial insight and strong financial discipline will help SIG deliver its Vision 2030 strategy as CEO

• Vision 2030 includes a £50 million ($66.19 million) operating profit uplift by mid-2028 and at least £100 million of cash generation by end-2027, among other financial performance targets announced in August

($1 = £0.7555)

(Reporting by Neeshita Beura in Bengaluru; Editing by Subhranshu Sahu)