George Bamford is to lead JCB as joint chairman alongside his father Lord Anthony Bamford, the digger manufacturer has said. It came as the company revealed a dip in profits for last year after a drop in machine sales in the face of a “challenging” global backdrop.
Leadership transition and investment
The Staffordshire-based construction and agricultural equipment firm is currently accelerating investment in the UK and US in a bid to help drive a return to strong growth. The company was founded by Joseph Cyril Bamford in 1945. His son Anthony has been chairman of the firm since 1975, driving forward its international expansion, but has now said he will share the role with youngest son George.
Lord Bamford said: “Last year, JCB celebrated its 80th birthday and, as we look ahead, we are investing heavily in the future of the business – from the transformation of our Staffordshire headquarters and pioneering hydrogen technology, to our new factory in Texas. As part of that next chapter, I’m delighted that my son George will become joint chairman of JCB. We have never been a company that stands still, and these investments will ensure JCB is well placed to seize the opportunities ahead.”
New factory and UK expansion
George Bamford, who also founded watch brand Bamford Watch Department, will take the role from the start of October. The appointment comes as JCB pushes ahead with the development of its new US factory in San Antonio, Texas, which will open next month. The site, which will create 1,500 jobs over the next five years, will see the company avoid tariff costs currently affecting UK-made products sold in the US.
JCB is also increasing investment in the UK, with a £100 million transformation of its headquarters, including a £60 million fully automated powder paint plant.
Financial results
On Monday, the group revealed that turnover dipped to £5.7 billion in 2025, compared with £5.8 billion a year earlier. It came as the firm sold 113,498 machine units for the year, falling by 5.2% year-on-year. It said pre-tax profits slipped to £642 million for the year from £687.3 million in 2024.
JCB chief executive Graeme Macdonald said: “While 2025 was a more challenging year with mixed market conditions around the world, JCB delivered a robust performance overall. Despite nil market growth in North America and a 12% market contraction in India – both important markets for JCB – we increased our global market share during 2025, which is an encouraging result. The overall outlook for 2026 is for moderate growth, despite ongoing geopolitical uncertainty, and with new capacity coming on stream in Texas and Staffordshire we are well placed to take advantage of it.”
