Crest Nicholson Holdings PLC Directorate Change (8833L)
11 September 2019 - 4:01PM
UK Regulatory
TIDMCRST
RNS Number : 8833L
Crest Nicholson Holdings PLC
11 September 2019
The information contained in this announcement is deemed by the
Company to constitute inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Crest Nicholson Holdings plc
(the "Company" or "Crest Nicholson")
Directorate Change
Iain Ferguson to become independent Non-Executive Chairman of
Crest Nicholson, succeeding Stephen Stone.
Crest Nicholson announces that following an extensive search
process Iain Ferguson has been appointed independent Non-Executive
Chairman. He joins the Board on 16 September 2019 as Non-Executive
Chairman designate and will become Non-Executive Chairman on 1
November 2019 at the commencement of our new financial year.
Stephen Stone steps down from the Board on 31 October 2019.
Iain Ferguson is a highly experienced public company Chairman,
Non-Executive Director and former FTSE 100 CEO. He brings a unique
blend of board and business leadership experience across a range of
sectors and industries, including previous roles as Non-Executive
Chairman of the Stobart Group, Senior Independent Director of
Balfour Beatty plc and Chief Executive of Tate & Lyle plc.
Stephen moved from Chief Executive to Executive Chairman in
March 2018 and latterly to Non-Executive Chairman in April 2019 and
has overseen the implementation of the current strategy and
appointment of a new executive management team. Stephen and the
Board feel that it is the appropriate time for him to step down
from the Board and be succeeded by an independent Non-Executive
Chairman.
Stephen Stone, Chairman, said: "It is a privilege to have served
as Chief Executive and then Chairman of this great Company and to
have worked with many exceptional people to create so much value
for shareholders, employees and the communities where we
operate."
Iain Ferguson, Chairman-designate, said: "Crest Nicholson is an
outstanding company, with a passion for not just building homes,
but also for creating vibrant sustainable communities. I am looking
forward to working with Peter Truscott, our new Chief Executive and
the wider management team and the Board in the next phase for Crest
Nicholson."
Leslie Van de Walle, Deputy Chairman and Senior Independent
Director said: "I would like to pay tribute to Stephen's leadership
and immense contribution to Crest Nicholson's success over many
years both as Chief Executive and Chairman and as a leader in the
industry. We are delighted to have secured Iain as Chairman. His
impressive track record makes him ideally suited to lead the next
phase of Crest Nicholson's future."
Additional Information
Iain Ferguson
Iain Ferguson was Chief Executive Officer of Tate & Lyle plc
from 2003 until 2009.
Iain was Non-Executive Chairman of the Stobart Group Limited
from 2013 to 2019. Iain served as Senior Independent Director of
Balfour Beatty plc from 2012 to 2019 and previously as
Non-Executive Director from 2010. He chaired Berendsen plc from
2012 to 2017 and previously as Senior Independent Director from
2010. He was Non-Executive Director at Greggs plc from 2009 to
2014. In addition, Iain was Lead Independent Director at the
Department for Environment, Food and Rural Affairs, Chair of Wilton
Park (Agency of the Foreign and Commonwealth Office) and a Member
of the PricewaterhouseCoopers UK Advisory Board. He holds a BSc
(Hons) in Chemistry & Psychology from St Andrews University and
has the Harvard Business School Advanced Management Programme.
Iain currently serves as Non-Executive Director (and Chair
designate) of Personal Assets Trust plc and is Pro Chancellor at
Cranfield University.
Stephen Stone
Stephen Stone joined the Group in 1995 and was appointed to the
Board in 1999 becoming Chief Executive on 1 November 2005 and
Chairman in March 2018. Stephen has contributed greatly to the
success of Crest Nicholson transforming the Company, successfully
returning it to the public markets and generated substantial value
for shareholders. Since Crest Nicholson's IPO in 2013, housing
completions have increased 39%, revenues and profits before tax
have more than doubled and shareholders have enjoyed a Total
Shareholder Return of 89%.
The Company confirms that no other disclosures are required
pursuant to the Financial Conduct Authority's Listing Rules,
LR9.6.13R.
For further information, please contact:
Crest Nicholson Holdings plc +44 (0) 1932 580555
Peter Truscott, Chief Executive
Duncan Cooper, Group Finance
Director
Finsbury +44 (0) 20 7251 3801
Faeth Birch
Philip Walters
11 September 2019
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END
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