Finance director named as Master Cutler

The 56-year-old spent 25 years in various accounting roles in the manufacturing industries of Sheffield and South Yorkshire.

He led Firth Rixson from a stock exchange listing to private ownership a decade ago, marking the UK entry of the American private equity giant Carlyle Group.

He is currently group finance director at Rotherham’s AES Engineering, but he intends to stand down to concentrate on his new role which starts next month.

Mr MacDonald said past Master Cutlers have chosen to concentrate on “this new theme or that new theme”, but he will focus on “what the Company of Cutlers is there for – representing manufacturing and promoting manufacturing in the Sheffield city region”.

But he said he will continue the work promoting greater links between industry and education.

He predicted that the centenary of Harry Brearley’s invention of stainless steel next year will give his tenure “a different twist”.

The discovery and development of stainless steel helped Sheffield cement its international reputation as an industrial powerhouse.

He said the contemporary manufacturing industry is “not in bad shape” and doing well in sectors like aerospace, automotive, medical and oil and gas, although construction and retail continue to struggle.

“It’s good to see we are talking about rebalancing,” he added.

Mr MacDonald described the Advanced Manufacturing Park and the arrival of Rolls-Royce in South Yorkshire as “brilliant”.

He observed that the situation in Europe remains a challenge, but recent political announcements suggest “we are finally making progress and it’s not going to collapse in a heap”.

He said banks are lending to businesses, although associated lending conditions are making it more difficult for small businesses.

He added that exports are growing from the city region and not just to traditional markets but also to fast-growing economies like South America, the Middle East and Africa.

He praised recent developments giving the city region greater control over funding for skills and apprenticeships and said “things are really coming together”.

Mr MacDonald replaces Pam Liversidge OBE, the first female Cutler in the company’s history.