Tony Pidgley’s Berkeley Group has poached Quintain Estates & Development’s finance director.
Richard Stearn has handed in his notice at Quintain to join the residential specialist as finance director.
He will leave the company no later than 3 April 2015 and a process has begun to find his successor.
Maxwell James, chief executive of Quintain, said: “Richard has made a huge contribution to Quintain since joining the company in January 2012. Personally, I will miss Richard’s valuable input to my team and I would like to thank him for his ongoing support over the coming months.”
Stearn added: “While I am excited about my new role, I will be sad to leave Quintain. The business has made significant progress in the past two years through the refocusing of the business on London and the actions we have taken to strengthen the balance sheet. I am proud of what has been achieved already.”
He will receive a basic annual salary of £350,000 and will be granted replacement share awards over 45,672 Berkeley shares. There will also be a cash payment of £359,842 in lieu of his entitlement over Quintain shares that will be forfeited when he joins Berkeley.
joanna.bourke@estatesgazette.com
