Vik Bansal will be moving on after three years of leading Boral’s Good to Great strategy
Boral CEO and managing director Vik Bansal has announced that he will step down from his current role, with the transition expected to occur in early 2026.
At the conclusion of his role as Boral CEO, Bansal will be appointed to the SGH Board as a non-executive director. SGH is the parent company of Boral and owns businesses including Caterpillar dealer WesTrac and equipment hire company Coates.
Matt McKenzie, currently executive general manager – concrete and quarries (South), will be appointed CEO, effective 1 July 2025, to support leadership continuity and drive ongoing momentum.
Since his appointment as the CEO & MD of Boral in late 2022, Bansal has led Boral’s transformation under his Good to Great strategy – focused on improving performance, aligning leadership with shareholder value creation, and embedding a culture of operational excellence.
Boral says that this strategy has delivered substantial improvements in operating performance, accountability, customer and employee engagement, all underpinned by the Boral Way operating discipline. Boral Way is closely aligned with SGH’s operating philosophy and have collectively enabled enhanced financial outcomes.
- Subscribe to our free weekly newsletter to receive the latest news in the earthmoving industry
- Never miss a great deal and subscribe to our monthly magazine
- Download a free copy of our latest digital magazine to catch up on the biggest news and developments in the earthmoving industry
“I want to acknowledge Vik for his outstanding leadership and contribution to Boral over the past three years,” SGH MD and CEO Ryan Stokes says.
“Under Vik’s leadership, the Good to Great strategy and the Boral Way operating discipline have been deeply embedded, driving a disciplined focus on performance, stakeholder, and cultural alignment. He has built a high-calibre team and led a step change in Boral’s operational and financial outcomes. We look forward to his continued contribution as a non-executive director.
“As we plan for the next chapter, our priority is to appoint a CEO who will enhance the Boral Good to Great journey and build on this momentum, ensuring we continue to unlock value and deliver long-term performance.”
Bansal adds: “It is an honour to have lead Boral through a pivotal phase in its transformation.
“Over the past three years, we have repositioned the business including unlocking value from our privileged asset base, national scale, and vertically integrated model – all while fostering a high-performance culture. With Boral in a significantly stronger position and a capable leadership team in place, now is the right time to begin the next phase.
“I would like to thank Ryan for his ongoing support and the opportunity to serve as CEO. I look forward to working with the Board to ensure a smooth transition and remain committed to Boral’s continued success and to contributing in a new capacity as an SGH non-executive director.”