J.C. Bamford Excavators Ltd. announced that George Bamford will become joint chairman alongside his father, marking the first change at the top of one of the UK's biggest private companies in more than 50 years. According to reports from The Telegraph, Lord Bamford, who turns 81 next month, has chosen George, 45, as his eventual successor rather than Joseph Bamford, his elder son and presumed heir. This transition comes after Anthony Bamford, the founder's son, has been chairman since 1975 and oversaw JCB's transformation from a predominantly British manufacturer into a global business. The leadership change is being framed as part of "investing for its next chapter," hinting at a tandem push on succession and capacity closer to customers in the US. George Bamford, 45, will take up the role from 1 October as the construction and agricultural equipment maker begins its historic transition.
JCB generated £642 million in pretax profit in 2025, down from £687.3 million the previous year, as reported by TheBusinessDesk.com. The company attributed the decline to machinery sales falling 5% amid weakness in the North American and Indian markets. JCB stated that the business was grappling with geopolitical uncertainty during this period. Turnover dipped to £5.7 billion in 2025, compared with £5.8 billion in 2024, with the company selling 113,498 machines during the year, down 5.2%. Despite these challenges, the company continues to invest heavily in expansion and modernization initiatives. Lord Bamford confirmed the decision as the company reported higher global market share in 2025, despite flat sales of £5.7 billion and a 7 per cent profit decline.
Under Anthony Bamford's leadership, JCB expanded overseas, including in India, which has become one of its key manufacturing hubs. As reported by Business Standard, the company employs more than 20,000 people worldwide across 23 factories globally, including 8,000 in the UK. Next month, JCB will open its largest factory in the world in San Antonio, Texas, which will build Loadall telescopic handlers and access equipment. The company is also investing £100 million to revamp its Staffordshire headquarters at Rocester, which has been the company's home since 1950. JCB warned in August 2025 that US tariffs on steel and aluminium goods would cost it hundreds of millions of pounds, prompting the company to invest heavily in capacity expansion.
George Bamford, 45, started out in the luxury-watch world, founding Mayfair-based business Bamford Watch Department in 2009, before taking a senior role at JCB. According to Business Standard, his appointment as joint chairman ends years of speculation, as some in the business community had expected his elder brother Jo to succeed their father. Lord Bamford, who retired from the House of Lords in 2024, was born on the day JCB was founded in 1945 and succeeded his father as chairman and managing director at age 30. The family's business interests extend beyond JCB, with his eldest son Jo owning electric bus company Wrightbus Ltd., which employs 2,500 staff in Northern Ireland, while his daughter Alice is a movie producer and wife Carole runs luxury food brand Daylesford Organic. Lord Bamford's elder son Joseph, a successful industrialist, had earlier attempted to persuade his father to give up the day-to-day running of JCB in what Lord Bamford viewed as an attempted coup.
Lord Bamford said: "We have never been a company that stands still, and these investments will ensure JCB is well placed to seize the opportunities ahead. As part of that next chapter, I'm delighted that my son George will become joint chairman of JCB." The company is also investing in pioneering hydrogen technology, claiming to be the first construction equipment company in the world to bring a fully approved hydrogen-fuelled combustion engine to market. In August, the JCB Hydromax, driven by Wing Commander Andy Green, averaged 406.32mph at the Bonneville Salt Flats in Utah, making it the fastest hydrogen-powered vehicle of any kind. Macdonald said he expected moderate growth in 2026 "despite ongoing geopolitical uncertainty." George Bamford emphasized that innovation and investment in Great Britain remain central to the business, reinforcing the family's commitment to UK manufacturing at a time when several wealthy Britons have left the country.
