Ashtead Group PLC’s Chief Executive Officer Geoff Drabble will step down in May next year after almost 12 years at the helm, the British industrial equipment rental firm said Thursday, Reuters reported. Drabble will be succeeded by Brendan Horgan, currently Ashtead Group Chief Operating Officer and Chief Executive of its U.S. business Sunbelt Rentals, effective May 1. Sunbelt made up 87 percent of Ashtead’s revenue last year.

Drabble, 58, will retire from the group on Nov. 30, 2019. He was appointed as CEO in January 2007, having served as Chief Executive Designate from October 2006 and as a non-executive director since April 2005. He was previously an Executive Director of The Laird Group PLC where he was responsible for its Building Products division.

Horgan was appointed Chief Executive of Sunbelt and a director in January 2011. In January 2018 he was appointed as Group Operating Officer retaining his day to day responsibilities for running Sunbelt. Horgan joined Sunbelt in 1996 and has held a number of senior management positions including chief sales officer and chief operating officer.