MJ Gleeson PLC Re Directorate (5995B)
10 June 2019 - 4:00PM
UK Regulatory
TIDMGLE
RNS Number : 5995B
MJ Gleeson PLC
10 June 2019
MJ Gleeson plc
(GLE.L)
For immediate release
Re Directorate
The Board of MJ Gleeson plc ("Gleeson", "the Group" or "the
Company") announces that Jolyon Harrison who joined the Board in
July 2010 and was appointed Chief Executive Officer on 1 July 2012,
has stepped down from the Board and left the Company with immediate
effect.
Following extensive discussions with Mr Harrison regarding his
remuneration and succession planning, the Board concluded that it
was not possible to find a mutually acceptable basis for Mr
Harrison to continue as Chief Executive Officer.
The Board announces that James Thomson will join the Board as
Chief Executive Officer on an interim basis with immediate effect.
Mr Thomson is formerly Chief Executive of Keepmoat Homes Ltd, a
private equity owned housebuilder selling over 4,000 homes a year,
and where Mr Thomson remains a non-executive director and
shareholder.
The Board is initiating a search process, which will include
both internal and external candidates, to identify a long-term CEO
appointment.
Gleeson has a very strong management team comprising Stefan
Allanson (Chief Financial Officer), Sarah Marsden (Gleeson Homes
COO), Bryan Simpson (Gleeson Homes MD) and James Pitt (Gleeson
Strategic Land Deputy MD). The Board believes that the Company is
very well placed to continue to achieve strong growth in turnover
and profits.
The Company is scheduled to issue its next trading update in
early July and results for the year ended 30 June 2019 on 16
September 2019.
Meanwhile, the Board re-affirms its previous guidance that it
anticipates the Group will deliver a result for the year in line
with expectations.
ENDS
10 June 2019
Notes:
James Thomson was a director of DTZ Holdings plc (DTZ) from 8
August 2011 when he was promoted to Group Finance Director until
the operational business of DTZ was sold as a going concern on 4
December 2011 to UGL Ltd. James remained as a Director of the DTZ
Holdings plc, the holding company of DTZ, until it went into
liquidation in September 2012. DTZ was listed on the London Stock
Exchange and was majority owned by Saint George Participations SAS
(SGP) with the remaining shares being widely held. In May 2011, DTZ
had announced that it was in discussions with SGP about an offer
for the whole of DTZ. On 17 October 2011, SGP announced that
discussions between it and DTZ had been terminated and confirmed it
would not be making an offer for DTZ. On 19 October 2011, DTZ
announced the commencement of a formal sale process and a
pre-agreed sale of the business in administration was considered
necessary in order to sell the business as a going concern. On 4
December 2011, the Court appointed joint administrators of DTZ who
then completed a sale of the business and assets of DTZ to a
subsidiary of UGL Limited, an Australian listed property services
group. DTZ subsequently went into creditors' voluntary liquidation
on 2 October 2012, before being dissolved on 22 March 2017. No
public criticism by any statutory or regulatory authority
(including recognised professional bodies) or disqualification
proceedings have been made or brought against James Thomson
relating to his directorship of DTZ.
No further information is required to be disclosed pursuant to
LR 9.6.13 R.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The person responsible for
arranging the release of this announcement on behalf of the Company
is Stefan Allanson, Chief Financial Officer.
LEI: 21380064K7N2W7FD6434
Enquiries:
Instinctif Partners Tel: +44 7771 860938
Mark Garraway
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END
BOAUGUQPQUPBGBB
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June 10, 2019 02:00 ET (06:00 GMT)
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