Weir Group, the Glasgow-headquartered global engineer, has announced a change at the top of Esco, the US business that it bought in 2018 for some $1 billion-plus (£760 million).
The group said that after 32 years’ service, Jon Owens would be stepping down as president of the Esco division with effect from 15 July.
He will be succeeded by Andrew Neilson, currently regional managing director of Europe, Russia, Central Asia and North Africa for the Weir minerals division. Neilson will join the group executive on 1 April and work with Owens during a three-month transition period.
Weir Group chief executive Jon Stanton said: “I’d like to pay tribute to Jon Owens for his enormous contribution to Esco and Weir. He agreed to stay on with the business after Weir’s acquisition to ensure it was successfully integrated into the group.
“With that mission now complete, and after more than three decades of service, he has decided to retire. On behalf of everyone at Weir I would like to thank him for his hard work and wish him a happy retirement.”
He added: “I am delighted that Jon will be succeeded by Andrew Neilson, who successfully led the Esco integration team and brings a wealth of experience from across our business. I am certain he will make a big contribution to Esco and the group executive.”
Neilson is a graduate of the University of Strathclyde where he was awarded a masters in manufacturing sciences and engineering.
Before joining Weir in 2010 his experience included a number of strategy and finance roles with Bank of Scotland, ScottishPower, HSBC and KPMG.
The 2018 acquisition of Esco, for an enterprise value of about $1.29bn, was the largest in Weir’s history. The division is one of the world’s largest providers of ground engaging tools for mining machines.