BELLWAY p.l.c.
(the ‘Company’)
Retirement of
Chief Executive and Board changes
Bellway p.l.c. announces that Ted
Ayres, Chief Executive, who has been on leave of absence
since August 2017 due to ill health is leaving the Board
on 31st July 2018. The Board and management team
continue to wish Ted a full recovery and a healthy retirement and
would like to thank him for the valuable contribution he has made
to Bellway over his 16 years with the Company and during his 5
years as Chief Executive when he led the successful delivery of the
Group's growth strategy.
The Board is pleased to announce that Jason Honeyman is to be appointed as Chief
Executive from 1st August 2018. Jason has been an
employee of Bellway since 2005 having been Managing Director of our
largest and most successful Division at Thames Gateway before being
promoted to Southern Regional Chairman in December 2011 and then joining the Board as Chief
Operating Officer on 1st September 2017. The Board is extremely pleased to
have such a strong successor in place in Jason who, since his
appointment as Chief Operating Officer, has worked closely with the
Executive Chairman, and are confident that his wealth of experience
in the housebuilding sector will contribute greatly to the future
of the Group. Jason will Chair the Board Committee on Non-Executive
Directors’ Remuneration.
John Watson, who has been acting
as Executive Chairman during Ted’s leave of absence, will resume
his role as non-executive Chairman on 1st August 2018, following the appointment of
Jason Honeyman as Chief
Executive.
In addition, the Company wishes to take this opportunity to
announce the following future Board changes which are part of the
Board’s ongoing succession plan. These changes will take
effect from the conclusion of the Company’s AGM on 12th
December 2018 (the ‘AGM’).
John Watson, having served on the
Board since 1995 as an executive director, and since 2013 as
Chairman, will retire from the Board at the AGM.
John Watson will be succeeded as
non-executive Chairman by Paul Hampden
Smith. Paul has been a non-executive director since
2013, and Chairman of the Audit Committee since 2014. Paul is
also the senior independent non-executive director, Chairman of the
Audit & Risk Committee and a member of the Nomination and
Remuneration Committees of Grafton Group plc and was the Group
Finance Director of Travis Perkins
plc from 1996 until his retirement in February 2013
Ian McHoul will replace
Paul Hampden Smith as Chairman of
the Audit Committee. Ian was Chief Financial Officer of Amec Foster
Wheeler plc from 2008 until 2017 and is senior independent
non-executive director and Chairman of the Audit Committee at
Britvic plc and a non-executive director at Young & Co’s
Brewery, P.L.C..
The Board wishes to place on record its gratitude to
John Watson for his dedication and
service to Bellway over the last 40 years, 23 of which have been
spent on the Board. We wish him a very long, happy and
healthy retirement.
Name of contact and telephone number for queries:
Simon Scougall
Group General Counsel and Company Secretary
Bellway p.l.c.
Tel: 0191 217 0717