GEORGE BAMFORD TO BECOME JOINT CHAIRMAN OF JCB

George Bamford will become joint chairman of JCB alongside his father, Lord Bamford, from 1 October, the company has announced. The appointment marks the first change at the top of the construction and agricultural equipment maker's boardroom in more than 50 years, with Lord Bamford having held the chairmanship since 1975. Lord Bamford said the move forms part of a "next chapter" for the firm, which he said was investing heavily in its future, including the transformation of its Staffordshire headquarters, hydrogen technology and a new factory in Texas. George Bamford, Lord Bamford's younger son, founded watch brand Bamford Watch Department. The announcement came alongside JCB's results for 2025, which showed pre-tax profits fell to £642m from £687.3m the previous year.

JCB, based in Rocester, Staffordshire, was founded by Joseph Cyril Bamford in 1945 and employs more than 20,000 people across 23 factories worldwide. The company reported that turnover dipped to £5.7bn in 2025 from £5.8bn a year earlier, while machine sales fell 5.2% to 113,498 units. JCB chief executive Graeme Macdonald described 2025 as "a more challenging year with mixed market conditions around the world" but said the company delivered "a robust performance overall". According to the company, its North American market remained flat and its Indian market contracted by 12%, though JCB said it still grew its overall market share.

JCB is proceeding with a £100m upgrade of its Rocester headquarters, including a £60m automated powder paint plant, and is due to open a new factory in San Antonio, Texas, next month, which the company said would create 1,500 jobs over five years. JCB said the Texas plant, which will build Loadall telescopic handlers and access equipment, would help the company avoid tariff costs affecting UK-made products sold in the US. The company had warned in August 2025 that US tariffs on steel and aluminium goods would cost it hundreds of millions of pounds. Macdonald said he expected moderate growth in 2026 despite what he described as ongoing geopolitical uncertainty.