Boral names new CEO

Boral has announced that Mike Kane, head of US operations, is its new CEO.

Kane, 61 and raised in New York, will take over from CEO Ross Batstone, The Australian and others report. Batstone has been in the role since May, and will remain at Boral in a consultancy role until the end of this financial year.

Kane has been the US boss for two-and-a-half years.

"My immediate priorities are to work with Boral's management team to continue to strengthen Boral's financial position by maximising cash generation, further aligning Boral's operational portfolio and delivering benefits from our LEAN manufacturing initiative,'' Kane said.

Last month Boral announced a $176.6 million net profit, up by  5.3 per cent despite a weak building market.

Kane's appointment ends the guessing game over who would end up the role, with some speculating that it may have been filled by Jonathan Ling of Fletcher Building.