The Independent Builders Merchant Group (IBMG) has announced the promotion of Martin Stables to the role of Group Chief Executive, succeeding to Nick House, who will continue with the group as a Non-Executive Director.
Stables joined IBMG in October 2021 as Group Chief Commercial Officer with 25 years of industry expertise, having worked in various commercial positions for Jewson, Saint Gobain, and Graham Plumbers' Merchant.
Nick House, IBMG’s retiring Group Chief Executive, has led Grant & Stone, and more recently IBMG, with great success for over 30 years. From a small regional builders merchant founded in 1987, House has led a growth journey that created a business with revenues of over £600 million, 169 branches and over 2,100 employees.
The Board of IBMG is delighted that House, having chosen to be less active in the management of the company, will continue as a Non-Executive Director for the next phase of its growth.
Nick House explained: “To have achieved so much, with the support of a great team, fills me with pride. IBMG is well positioned for the next stage of its development so this seems the natural point for me to step back and pass the baton to Martin, while continuing to support the business in a non-executive capacity.
“Martin has demonstrated exceptional leadership qualities in the time we have worked together so I am confident that with the support of our outstanding management team, the business will thrive”
Martin Stables added, “It has been a great pleasure to work with Nick – I have learnt much from his leadership and innate understanding of our people and customers. We share a common vision for the business so I am glad that he will continue to be involved as a non-executive.
“We are at a really exciting point in our development and have ambitious goals to fulfil but we are well-equipped to meet them. We are well structured, have strong investor support; exceptional, fiercely independent trading brands; first-rate employees, and a well-deserved reputation for outstanding service. I am honoured and delighted to lead our talented team during the next phase of our growth.”
David Moore, IBMG’s Chairman, said: “On behalf of all at IBMG, I would like to congratulate Martin on his new role and thank Nick for his drive and unstinting commitment over the last few years. Our current industry standing is testament to the great company and great team that he built.
“We are delighted that we will continue to benefit from his ongoing contributions to the Board. Martin inherits a business that is in great shape so we fully anticipate that with his strong leadership and our outstanding teams, we will continue to deliver exceptional growth.”