Redrow PLC Re Directorate (5515G)
November 07 2018 - 2:00AM
UK Regulatory
TIDMRDW
RNS Number : 5515G
Redrow PLC
07 November 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2016. UPON
PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN. THE INFORMATION CONTAINED IN
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.
FOR IMMEDIATE RELEASE
Redrow plc
7(th) November 2018
Re Directorate
Steve Morgan, Chairman, who founded the Company in 1974, will
retire from the Board at the end of March 2019, virtually 10 years
to the day since he returned to the business on 30 March 2009. He
will be succeeded as Executive Chairman by John Tutte, Redrow's
current Group Chief Executive.
Matthew Pratt, 43, will be appointed Chief Operating Officer and
will join the Board at the end of March 2019. Matthew who has been
with Redrow for 16 years, is currently the Regional CEO of Redrow's
Southern businesses and is a member of the Group Executive
Board.
Steve Morgan, said:
"I am delighted that John has accepted the invitation to succeed
me as Chairman. I have worked closely with John over the last 10
years and believe that his appointment will ensure the stability
and continuity so important to a business like Redrow.
By the end of March 2019 it will be exactly 10 years since I
returned to the Group and I am proud of what has been achieved over
this time. Since I founded Redrow in 1974 we have had many
important milestones. Just two weeks ago we completed our 100,000th
Redrow home and 2018 will see us complete 6,000 homes in a calendar
year for the first time, both significant milestones for Redrow and
for me on a personal level.
We have built an exceptional team at Redrow with strong
succession plans in place across all our key disciplines. John
Tutte has been an outstanding CEO of the business over recent years
and is the ideal successor to me as Chairman. Matthew Pratt who has
progressed through the ranks over the past 16 years, is an
excellent appointment in the role of Chief Operating Officer.
As a major shareholder I will look forward to watching the
continued progress of the business under John's leadership."
John Tutte, Chief Executive, commented:
"The Board is very grateful to Steve for his inspired leadership
of Redrow since he founded the Group in 1974, a period in which the
Group has changed much and grown substantially. Steve has made a
huge contribution to the industry over many years and his
leadership since he returned to Redrow in 2009 has been immense. We
wish him every happiness for the future".
There are no further matters to be disclosed pursuant to
paragraph 9.6.13 of the Listing Rules of the UK Listing
Authority
The person responsible for the release of this announcement is
Graham Cope, Group Company Secretary of Redrow plc.
Enquiries:
Redrow plc
Steve Morgan, Chairman 01244 527411
Barbara Richmond, Group Finance Director 01244 527411
John Tutte, Group Chief Executive 01244 527411
Instinctif 0207 457 2020
Mark Garraway 07771 860 938
James Gray 07583 936 031
LEI Number:
2138008WJZBBA7EYEL28
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
BOAVQLFBVFFXFBB
(END) Dow Jones Newswires
November 07, 2018 02:00 ET (07:00 GMT)
Redrow (LSE:RDW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Redrow (LSE:RDW)
Historical Stock Chart
From Apr 2023 to Apr 2024