Patrick Bergin has been promoted to chief executive officer by the board of Crest Nicholson with effect from 22 March.
Stephen Stone will become executive chairman with effect from 22 March and will become non-executive chairman with effect from 1 April 2019;
William Rucker will not stand for re-election as non-executive chairman and is leaving the board.
Leslie Van de Walle has been appointed deputy chairman and senior independent director of the company with immediate effect. Louise Hardy joins the board as non-executive director with immediate effect.
As part of the succession planning process, Bergin was appointed chief operating officer in January 2017.
The board said that it was unanimous that it would be in the best interests of the company for Stephen Stone’s expertise to remain within Crest Nicholson and, following an extensive consultation with major shareholders.
Stone will act in an executive capacity for the first 12 months but will move to become non-executive from 1 April 2019.
Rucker, who has been chairman of the board since September 2011, will not seek re-election at the forthcoming AGM.
Octavia Morley, interim chair of the nomination committee, said: “Under the leadership of Stephen and Patrick, Crest Nicholson has been a very strong performer since its initial public offering in February 2013, achieving significant increases in total shareholder return, profitability and number of homes built. The board believes their combined leadership as chief executive and chairman will continue to be a winning formula for shareholders in the future.
“We are also delighted to welcome Leslie and Louise to the board and would like to sincerely thank William for his strong leadership of the board since 2011 and Pam for her valuable contribution both as a member of the board and as a member of the audit and risk, nomination, remuneration and technical committees.”
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