Boral chief executive officer and managing director Vik Bansal is set to step away from his current role at the Australian construction materials producer.
A transition is expected to take place at Boral during early 2026. After concluding his role as CEO of Boral, Bansal will be appointed to the SGH board as a non-executive director.
The company has confirmed that Matt McKenzie, previously executive general manager for concrete and quarries (South), has been promoted to chief operating officer, effective July 1. The move is part of SGH’s plans for a structured succession plan to transition the key leadership role.
“It is an honour to have led Boral through a pivotal phase in its transformation. Over the past three years, we have repositioned the business including unlocking value from our privileged asset base, national scale, and vertically integrated model – all while fostering a high-performance culture,” Bansal said.
“With Boral in a significantly stronger position and a capable leadership team in place, now is the right time to begin the next phase.
“I would like to thank Ryan for his ongoing support and the opportunity to serve as CEO. I look forward to working with the Board to ensure a smooth transition and remain committed to Boral’s continued success and to contributing in a new capacity as an SGH non-executive director.”
Successful tenure
Bansal was appointed as CEO and managing director of Boral in 2022. During his time, he led Boral’s “Good to Great” strategy which focused on improving operational performance and shareholder value.
“This strategy has delivered substantial improvements in operating performance, accountability, customer and employee engagement, all underpinned by the Boral Way operating discipline. Boral Way is closely aligned with SGH’s operating philosophy and has collectively enabled enhanced financial outcomes,” a statement read.
SGH CEO and managing director Ryan Stokes praised Bansal’s contribution to Boral.
“I want to acknowledge Vik for his outstanding leadership and contribution to Boral over the past three years,” he said,
“Under Vik’s leadership, the Good to Great strategy and the Boral Way operating discipline have been deeply embedded, driving a disciplined focus on performance, stakeholder, and cultural alignment. He has built a high-calibre team and led a step change in Boral’s operational and financial outcomes. We look forward to his continued contribution as a non-executive director.
“As we plan for the next chapter, our priority is to appoint a CEO who will enhance the Boral Good to Great journey and build on this momentum, ensuring we continue to unlock value and deliver long-term performance.”
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