56TE Sovereign 43

TIDM56TE

RNS Number : 1518A

Sovereign Housing Capital Plc

21 September 2022

Sovereign Housing Association Limited

Press statement - 21 September 2022

Tracey Barnes to step down as Chief Financial Officer at Sovereign

Tracey Barnes will be stepping down as Chief Financial Officer for personal reasons from 18 November 2022. She joined Sovereign from Diageo in 2019 and has played a leading role in the development of Sovereign's new Corporate Plan and Transformation Programme. In her time at Sovereign, she has brought her wealth of experience to bear across a wide range of projects. She established a major change programme to transform the services provided by the Finance Directorate. This included creating a dedicated process governance team to optimise Sovereign's end-to-end processes. She has also contributed to improving diversity at Board level and championing women in the workplace.

Commenting on her decision to leave she said:

"It has been a privilege to be a member of the Executive Board at Sovereign over three incredibly eventful years. Little did I know when I took up the role that it would entail a global pandemic, delivering our services through national lockdowns and more recently addressing the consequences of Russia's invasion of Ukraine, an energy crisis and a cost-of-living crisis. I have especially enjoyed working with such a talented and committed finance team, helping to shape a business function ready to meet the undoubted challenges ahead. I am sad that I am leaving for personal reasons, but I wish all my colleagues well and I will cherish my time at Sovereign."

An interim CFO will be appointed imminently before Sovereign looks to recruit a new permanent role.

Speaking at Sovereign House today Mark Washer, Chief Executive Officer said:

"Tracey has made a lasting contribution to Sovereign over the last three years, building a new team of senior leaders and shaping the way we work here so we can deliver on our ambitious plans. She should be rightly proud of what she has achieved, and we wish her well for the future.

He went on to say:

"We will now be looking to find a new CFO who can build on Tracey's achievements and drive forward the change we need to see in our business as we navigate challenging economic headwinds."

For further details please contact:

Charles Pitt - 07887 524378 / charles.pitt@sovereign.org.uk

About Sovereign

As one of the country's largest housing associations, Sovereign manages more than 60,000 homes and aims to build around 2,000 new homes every year. As part of a five-year strategy, Sovereign has trebled investment in community work, stepped up its development programme with a greater emphasis on major land-led schemes and focused on providing sustainable, affordable homes for nearly 140,000 customers and residents.

www.sovereign.org.uk

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