Housebuilder Barratt has appointed investment banker Caroline Silver as its next chair, succeeding John Allan from September this year.
Silver, an advisory partner at investment bank Moelis & Company with 30 years’ experience in the investment banking sector, will become a non-executive director and chair designate at Barratt from June ahead of taking up the leadership role.
She will also join the remuneration and nomination committees from June and become non-executive chair of the nomination committee in September as part of the planned succession process led by senior independent director Jock Lennox.
Silver’s CV includes senior roles at Bank of America Merrill Lynch and Morgan Stanley. She also sits on the boards of Tesco, BUPA and Intercontinental Exchange and is chair of the board of directors at PZ Cussons.
Silver said: “The company is in a strong financial and operational position and continues to perform well despite current market conditions. I look forward to leading the board and supporting the management team in developing and driving the company’s strategy and performance.”
Barratt claimed a strong six months in the second half of 2022 in a trading update earlier today, but forward orders have slumped by more than £1bn.
In a further change to the board, Barratt said John Lewis chairman Sharon White had decided to step down as a non-executive director at the housebuilder by June to reduce her non-executive commitments.
White joined the Barratt board in 2018. Allan said: “The board and I would like to thank Sharon for her significant contribution to Barratt and wish her the very best in her future endeavours.”
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