Lord Bamford, the billionaire head of JCB, has named his youngest son, George Bamford, as co-chairman, bringing an end to the succession saga at the digger manufacturing company. George Bamford, previously deputy chairman, is Lord Bamford’s third son and will assume the new role at the beginning of October.
This appointment represents the first change in leadership at JCB in over 50 years. Lord Bamford stated he was naming his successor as JCB is "invested heavily" in its Staffordshire headquarters and a new plant in Texas.
The company confirmed on Monday that pre-tax profit decreased to £642m in the last financial year, compared to £687.3m the previous year. Machine sales also saw a 5.2 per cent year-on-year decline, reaching 113,498 units. Despite this, JCB reported higher global market share in 2025, even with stagnant demand in North America.
JCB's chief executive, Graeme Macdonald, anticipates moderate growth this year, partly due to the new £750m manufacturing plant in San Antonio, Texas, which is set to open next month. This facility will be JCB's largest worldwide and is expected to employ 1,500 people.