Mr Manifold first joined the business in 1998 and was appointed as chief executive of the company in January 2014.
He will step down from the board at the end of 2024 and will remain as an adviser to the business for a year after his retirement.
CRH has announced the appointment of Jim Mintern as the company’s next chief executive.
Mr Mintern is currently chief financial officer at the business and has been a director on the company’s board since 2021.
He has worked in the building materials industry for more than 30 years, including 22 years at CRH.
Mr Mintern recently led the transition of CRH’s primary listing to the New York Stock Exchange.
“I am pleased that Jim, who has a deep understanding of CRH, will succeed me when I retire at the end of this year,” Mr Manifold said, adding that Mr Mintern’s “experience, capabilities and ambition for the business ideally position him to lead the CRH team forward through an era of enormous opportunity”.
“It has been a privilege to lead CRH,” he said. “I am profoundly grateful to my colleagues within the business and on the board for their commitment and support over the years as the entire team has strengthened and grown our company, positioning CRH for a bright future ahead.”
Jim Mintern will take over as chief executive of CRH
Mr Mintern described his appointed as “an incredible honour”.
“CRH has an impressive legacy of continuous growth and financial performance by providing value-enhancing solutions for its customers,” he said.
“I look forward to working alongside our highly talented team as we build on this foundation and continue to successfully grow the business while delivering exceptional returns for our shareholders.”
CRH chairman Richie Boucher added that the board has a significant focus on succession planning.
“Over recent years we have closely observed Jim’s character, qualities and abilities, as well as his significant influence on the evolution of CRH,” he said.
CRH reported a rise in both revenues and earnings in 2023 in a “record year”.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) at the group were $6.2bn (€5.7bn) last year, up 15pc from 2022.
Revenues last year grew to $34.9bn in 2023, up 7pc from a year earlier.
The group attributed this performance to resilient demand, pricing and contributions from acquisitions.
Last year, Mr Manifold’s salary rose to $13.2m, an increase from $11.3m in 2022.
This included base salary of $1.8m, as well as stock awards of almost $8m. He received a $2.5m bonus. Mr Manifold saw an increase in pension value and non-qualified compensation earnings of $857,367 in the period.