Patterson To Run JCB’s North American Operations
At the same time as it proclaimed 2007 as its most profitable year ever, JCB announced that John Patterson has decided to step down as Worldwide CEO to become chairman and CEO of JCB Inc., Savannah, Ga., the company’s North American operation. He will concentrate on developing the business in North America and Matthew Taylor, JCB’s chief operating officer, will succeed him as CEO.
Patterson joined JCB in 1971 as a field service engineer and rose through the ranks to become chief executive in 1998. He was promoted to managing director and CEO in 2004. Under his leadership, JCB’s worldwide business doubled over the past four years as the company opened new manufacturing facilities in the U.S., Brazil, India, China and Germany. It was the company’s largest global expansion in its history.
“John Patterson has led the JCB Group through one of the most successful periods in our history,” said Sir Anthony Bamford, JCB chairman. “And I’m pleased that he will now focus his attention on our North American business based in Savannah. The JCB Group is facing some difficult challenges as we enter a period of economic uncertainty. I look forward to the next phase of our growth and development. These changes will help drive that.”
JCB said Patterson’s appointment as CEO of JCB Inc. underscores the company’s commitment to the North American market which remains the largest market for construction equipment in the world. As further testament to the increased focus, JCB has revealed aggressive plans to double its distribution network by 2010, as well as investing in a $30 million project to build a new Customer Support Center to serve as both a parts distribution center as well as a training facility for its North American operations.
“This market poses some unique challenges in the face of the credit crunch and the weakening dollar,” Patterson said. “However, it continues to be the single largest market for construction equipment in the world. Some may say that JCB is the best-kept secret here in North America. I plan to change that.”
The JCB Group attained record pre-tax profits of $374 million on worldwide revenue of $4.5 billion in 2007. JCB reported sales of more than 72,000 machines last year.