Geoff Drabble announces retirement of Sunbelt Rentals parent company

Ashtead Group PLC’s Chief Executive Geoff Drabble has decided to step down from his role when the company’s current financial year ends on May 1, 2019.

The industrial-equipment rental company said Thursday that Mr. Drabble will be succeeded by Brendan Horgan, currently Ashtead’s group chief operating officer and CEO of Sunbelt Rentals.

Mr. Drabble will work closely with Mr. Horgan over the coming months to ensure a smooth transition and will be available afterward to support the business until he retires from the group on Nov. 30 next year.

Ashtead Group PLC is the parent company of Sunbelt Rentals.  No announcement yet on who would succeed Horgan at Sunbelt Rentals.