George Bamford, son of JCB chairman Lord Bamford, is to become joint chairman of the construction equipment manufacturer from 1 October.
George Bamford announced the move, saying he would take on the role alongside his father, who will remain chairman.
“As part of JCB’s next chapter, I am honoured to become Joint Chairman of JCB, alongside my father, Lord Bamford, who will remain Chairman for life,” he wrote.
“My father has been Chairman of JCB for over 50 years, and over this time, JCB has grown from a Staffordshire company with one factory, into one of Britain’s largest privately owned manufacturers, with 23 factories and more than 20,000 employees worldwide.”
George Bamford, who founded luxury watch company Bamford Watch Department, has also been JCB’s deputy chairman since the start of 2026.
Lord Bamford described the appointment as part of the “next chapter” for the business.
The appointment comes as JCB reported a 6.5% fall in pre-tax profit to £642 million (US$852 million) for 2025. Turnover fell to £5.7 billion (US$7.6 billion), from £5.8 billion the previous year.
Commenting on the financial results, JCB CEO Graeme Macdonald said, “While 2025 was a more challenging year with mixed market conditions around the world, JCB delivered a robust performance overall. Machine sales were down by around 5%, but turnover remained broadly stable due to a more favourable market and product mix.
“Despite nil market growth in North America and a 12% market contraction in India – both important markets for JCB – we increased our global market share during 2025, which is an encouraging result. The overall outlook for 2026 is for moderate growth, despite ongoing geopolitical uncertainty, and with new capacity coming on stream in Texas and Staffordshire we are well placed to take advantage of it.”