Crest Nicholson took its shareholders by surprise yesterday when it issued a profit warning for the third time in two years and parted ways with its finance director.
Stephen Stone, executive chairman, and Patrick Bergin, chief executive, two veterans of the housing sector, have taken control of a strategic rethink at the company after it suffered a sharp sales slowdown in London and the home counties.
Robert Allen, a former British American Tobacco executive who joined as finance chief in February 2017, has stepped down from the board and will leave the group after a short handover period.
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