Boral adds $2b in value as Kerry Stokes finds right CEO
Vik Bansal’s success in revitalising the construction materials group was behind the decision to name him one of The Australian Financial Review’s Business People of the Year for 2023.
A decision by the majority owners of Boral, the Rich Lister Stokes family, to poach Vik Bansal to run the construction materials group has paid off handsomely.
The sharemarket value of the cement, asphalt and gravel group has increased by $2 billion in 12 months, after Bansal pushed through price increases of more than 12 per cent to offset rising input costs, and embarked on a decentralisation strategy aimed at unleashing a more entrepreneurial mindset among managers.
Simon EvansSenior reporterSimon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
