– UK, London – Barratt Developments PLC today announced the appointment of David Thomas, currently Group Finance Director, as Group Chief Executive effective from 1 July 2015. This follows the decision by Mark Clare to step down after nine years as Group Chief Executive to develop his non-executive career.
Mark will step down as Chief Executive on 1 July 2015 and from the Board at the end of July.
John Allan, Chairman of Barratt said: “We are very sorry to see Mark go and he will leave a tremendous legacy. He has transformed the operations of the company, led a very successful land investment strategy, and realigned the business around its customers. He has also played an important role in the wider industry in terms of shaping housing policy and addressing the longer-term challenges the sector faces. On behalf of the Board, I would like to thank him for everything he has achieved.
“In David Thomas, the Board is extremely pleased to have such a strong successor in place. Over the last six years, David has played a key role in developing the Group’s strategy, driving performance, and embedding the disciplined approach that has served us so well. We are confident that David will lead the Group very effectively and will deliver both the medium-term targets for the business and the longer-term strategy.”
David Thomas said: “I am delighted to be stepping up to Chief Executive and look forward to continuing to work with Steven Boyes and our industry-leading management team. In the last few years, we have been able to deliver considerable improvements in shareholder returns and we have a clear strategy in place to continue our progress.”
About David Thomas
David, aged 52, joined as an Executive Director and the Group Finance Director on 21 July 2009. He was formerly the Group Finance Director and the Deputy Chief Executive of The GAME Group plc (2004-2009). Before that he was the Group Finance Director at Millennium and Copthorne Hotels plc (1998-2004) and held senior financial roles with House of Fraser plc and Forte plc. David is married with 4 children and is a Trustee of the Croydon Charitable Foundation. His interests include golf and fishing.
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