Watkin Jones plc Board Change (4347G)
July 19 2023 - 2:00AM
UK Regulatory
TIDMWJG
RNS Number : 4347G
Watkin Jones plc
19 July 2023
For immediate release 19 July 2023
Watkin Jones plc
('Watkin Jones' or the 'Group')
Board Change
Watkin Jones today announces that Richard Simpson has stepped
down from his role as Chief Executive Officer. The Board has asked
Alex Pease, the Group's Chief Investment Officer, to take on the
role of Interim Chief Executive, with effect from 19 July 2023,
whilst a formal process is undertaken to confirm a permanent CEO
appointment. During this period, Alex, who has led the Watkin
Jones' investment activities since 2013 and joined the Board in
2022, will head the Group executive team working closely with Sarah
Sergeant, Chief Financial Officer.
Alan Giddins, Chair of Watkin Jones, said: " On behalf of the
Board, I would like to thank Richard for his contribution to the
Group over the last five years and in particular his leadership of
the business through the challenges of the COVID pandemic.
"Alex has been a key member of the Group's executive leadership
team for the last 10 years and was most recently appointed to the
Board as Group Chief Investment Officer. In taking on the role of
Interim CEO, Alex provides both continuity, in what remains a very
challenging backdrop for the sector, as well as significant
experience in the residential for rent market which the Board
believes will help enable the Group to regain momentum ahead of
market conditions improving."
- Ends -
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014 as it
forms part of UK Domestic Law by virtue of the European Union
(Withdrawal) Act 2018 ("UK MAR")
For further information:
Watkin Jones plc
Alan Giddins - Chair Tel: +44 (0) 20 3617 4453
Alex Pease - Interim Chief Executive Officer
Sarah Sergeant - Chief Financial Officer
www.watkinjonesplc.com
Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker) Tel: +44 (0) 20 7418 8900
Mike Bell / Ed Allsopp www.peelhunt.com
Jefferies Hoare Govett (Joint Corporate Broker) Tel: +44 (0) 20 7029 8000
James Umbers/David Sheehan / Paul Bundred www.jefferies.com
Media enquiries:
Buchanan
Henry Harrison-Topham / Jamie Hooper Tel: +44 (0) 20 7466 5000
watkinjones@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Watkin Jones is the UK's leading developer and manager of
residential for rent, with a focus on the build to rent, student
accommodation and affordable housing sectors. The Group has strong
relationships with institutional investors, and a reputation for
successful, on-time-delivery of high quality developments. Since
1999, Watkin Jones has delivered 48,000 student beds across 143
sites, making it a key player and leader in the UK purpose-built
student accommodation market, and is increasingly expanding its
operations into the build to rent sector. In addition, Fresh, the
Group's specialist accommodation management business, manages over
22,000 student beds and build to rent apartments on behalf of its
institutional clients. Watkin Jones has also been responsible for
over 80 residential developments, ranging from starter homes to
executive housing and apartments.
The Group's competitive advantage lies in its capital-light
business model, which enables it to offer an end-to-end solution
for investors, delivered entirely in-house with minimal reliance on
third parties, across the entire life cycle of an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with
the ticker WJG.L. For additional information please visit
www.watkinjonesplc.com
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END
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