Weir has appointed Jon Stanton as chief executive designate, succeeding Cochrane with effect from 1 October 2016.
Stanton joined Weir in 2010 as group finance director and has worked closely with Cochrane on the strategic and operational development of the business. Before joining Weir, Stanton was a partner at Ernst & Young.
“Keith has demonstrated strong leadership over the last seven years and the substantial progress we have made during that time has been achieved through his passion, drive and determination,” said Weir chairman Charles Berry.
“Succession planning is a key task for the board and we have carefully considered the attributes we require in the new chief executive of the Weir Group. Having assessed external and internal candidates, we are delighted that Jon will step up to the role. He has a strong track record both during his time at Weir and in his previous career and has developed a deep understanding of Weir’s culture, operations and markets. The board is confident that Jon will be highly successful as he leads the business forward,” added Berry.
Cochrane will remain on hand to assist until the end of December 2016, when his employment with Weir will end.