The chairman and managing director of industrial excavator manufacturer JCB is to leave one of his roles, the company announced yesterday.

Sir Anthony Bamford has held the two posts for 29 years after succeeding his father, Joseph Bamford, who founded the company in 1945.

He will continue as chairman but the company's chief executive, John Patterson, will assume the role of managing director.

Sir Anthony said: "This change in responsibilities is recognition of the excellent job John Patterson has done in leading the team that has taken the company where it is today.

"It also better reflects changes in the internal management structure with the formation of a new group executive.

"However, I will still continue to be actively involved in the business on a day-to-day basis."

Mr Patterson, who joined JCB as a service engineer in 1971 before rising through the ranks, will take over his responsibilities on December 1.

JCB, based in Rocester, Staffordshire, is the world's fifth-largest construction equipment manufacturer.

It employs more than 5,000 people at 13 factories around the world and has an annual turnover of more than £1bn.