JCB names George Bamford joint chairman, settling a long-watched family succession

On 28 September 2026, J.C. Bamford Excavators said that George Bamford, its deputy chairman, will become joint chairman alongside his father, Lord Bamford. It is the first change at the top of JCB in more than 50 years. Lord Bamford, the founder’s son, has chaired the company since 1975 and is now 80. According to City AM, George takes up the role at the start of October.

The announcement came with JCB’s 2025 results. The company reported turnover of £5.7 billion and pre-tax profit of £642 million, down from £687 million the year before, with machine sales of 113,498 units, about 5% lower. JCB said it remains debt-free. Its new plant in San Antonio, Texas, opens this month, and it is spending £100 million on its Staffordshire headquarters.

A succession question answered in public

The appointment ends years of speculation about which of Lord Bamford’s children would lead the business. City AM reported that Jo Bamford, the eldest son, had long been seen as the front runner. He joined the board in 2006 and owns the bus maker Wrightbus. George, 45, founded the watch business Bamford Watch Department before taking a senior role at JCB, Bloomberg noted. City AM also reported that Lord Bamford told The Telegraph in May that he had chosen George as his eventual successor.

In the release, Lord Bamford framed the move as part of the company’s “next chapter”. He is not stepping aside. The title is shared, and father and son will chair together.

The tax backdrop

The family has been vocal about inheritance tax. In an April interview with City AM, Jo Bamford said the government’s changes to the treatment of family firms could push the group overseas, warning it “could quite easily become an American business”. The restrictions to business property relief took effect in April 2026. JCB’s announcement did not mention ownership or tax, and nothing published on 28 September indicates any change to the shareholding.

What it means for business-owning families

A joint chairmanship is a staged handover. The successor gets the title and the external authority, while the senior generation stays in the chair and keeps its standing with staff, lenders and government. The model works when roles are clearly divided and fails when they are not, so the useful work for families and their advisers is writing down who decides what, and when the joint arrangement ends. JCB also shows the cost of leaving the question open: once more than one child has a credible claim, a delayed decision becomes a public story. Naming the successor is a separate decision from passing on the shares, and under the post-April 2026 relief rules it pays to plan the two together.

Sources: City AM, 28 September 2026; Bloomberg via Business Standard, 28 September 2026; iVT International, 28 September 2026 (reproducing JCB’s statement).